Business succession
Reinhold Würth after the change: “I’ll take it more casually”
Change of power in the screw empire: From January 1st, the grandchildren will be in charge at Würth in Künzelsau. Company patriarch Reinhold Würth isn’t completely gone – but he wants to take it easy.
After the generational change in the Würth trading group, Reinhold Würth wants to take things easier. “I will take it more casually than I have since,” said the entrepreneur, known as the “Screw King,” to the German Press Agency in Künzelsau. He will do a lot of things privately. “First I’m going on my boat for a month at the end of January.” The destination is the Caribbean. “We’ll probably do British Virgin Islands this year.”
With the turn of the year, Würth is largely withdrawing from his life’s work. As announced at the beginning of October at the ceremony marking his 75th working anniversary, he will then hand over the chairmanship of the foundation’s supervisory board to his grandson Benjamin Würth. The company patriarch doesn’t want to get too involved in the future: “I might chat a little bit from the background. But I’ll hold back.”
Reinhold Würth had already left the day-to-day business of the group years ago, which earns its money from fastening and assembly technology. Since then, among other things, he has chaired the foundation supervisory board, the body that oversees family foundations. The group belongs to them. Benjamin Würth has been deputy chairman of the committee since the beginning of 2023.
In addition, two further changes will be made in the family company on January 1st: Sebastian Würth, Benjamin’s brother, will take over the chairmanship of the advisory board – this is the highest monitoring and control body of the Würth Group – from his aunt Bettina Würth. After the turn of the year, the group’s art and cultural activities are led by Maria Würth, also a granddaughter of Reinhold Würth.
Würth expects profits to collapse
Reinhold Würth is a billionaire and is one of the richest Germans. More than 88,500 people worked for the group worldwide – a good 27,400 of them in Germany. In 2023, the company had sales of more than 20 billion euros. In view of the economic crisis, Würth expects a decline in sales of two percent for the 2024 financial year. A decline in pre-tax profits of 25 to 30 percent was also expected.
dpa
Source: Stern
