After 67 years of leading the Merkur Group, its founder, Paul Gauselmann, will step down as Chairman of the Management Board, effective October 1, 2024. Gauselmann’s journey from starting a part-time operation in 1957 to building a global enterprise with annual revenues of approximately €4 billion ($4.4 billion) has been nothing short of remarkable. His decision to retire marks the end of an era and signals a broader generational shift within the Gauselmann family and the company’s leadership structure.
The announcement comes with key appointments that are poised to steer the company into its next chapter of growth and innovation.
Paul Gauselmann: A Legacy of Vision and Expansion
Paul Gauselmann’s entrepreneurial journey began in 1957 when he founded the company that would grow into a global leader in the gaming industry. Over the span of more than six decades, Gauselmann transformed his small venture into an enterprise that generates revenues of around €4 billion annually. His leadership not only shaped the company’s growth but also its approach to innovation, which helped Merkur establish itself as a pioneer in the entertainment and gaming industry. Under his stewardship, the company developed cutting-edge products and expanded into international markets.
Despite his official retirement, Paul Gauselmann’s influence will continue to be felt. He has overseen the transition in leadership, ensuring the continuity of Merkur Group’s strategic vision. His son, Michael Gauselmann, will carry on the family’s legacy, signaling a generational shift within the company’s leadership.
Lars Felderhoff Takes the Helm: From CFO to Chairman
Lars Felderhoff, who has served as Merkur Group’s CFO since 2018, will succeed Paul Gauselmann as the Chairman of the Management Board. Felderhoff’s career trajectory has positioned him well for this role. His background includes substantial experience in finance and commercial operations, having held key roles at GTech (now known as IGT) and Metro Cash & Carry International before joining Merkur in 2011. Initially serving as the Commercial Director of adp Merkur, he was responsible for the commercial management of over 40 companies within the broader group.
Felderhoff’s promotion reflects the company’s confidence in his leadership capabilities. His familiarity with the financial and operational aspects of the business gives him a comprehensive understanding of the company’s intricacies, making him a natural fit to steer the company into its next phase.
As Chairman, Felderhoff will play a critical role in shaping Merkur Group’s future. His expertise in finance, along with his deep knowledge of the company, will be vital as he seeks to build on the legacy left by Paul Gauselmann and navigate the company through the challenges of a rapidly evolving industry.
Reinforced Leadership Team: A Balanced Strategy for Growth
Accompanying Lars Felderhoff in the leadership transition are two key executives: Jürgen Stühmeyer and Manfred Stoffers, who will take on the roles of Vice-Chairs. These appointments reflect a balanced approach to governance, ensuring that the company’s sales, marketing, and political affairs are managed effectively.
Jürgen Stühmeyer, who is responsible for sales, has been with Merkur for several years and has contributed to the company’s strong market presence and customer relationships. His role as Vice-Chair will likely emphasize maintaining and expanding Merkur’s sales channels and global reach.
Manfred Stoffers, overseeing marketing and political affairs, brings a wealth of experience in public relations and governmental interaction. His appointment as Vice-Chair signals the company’s intent to strengthen its political and regulatory framework, particularly as the gaming industry faces increasing scrutiny and regulatory changes worldwide.
Together, Stühmeyer and Stoffers will provide valuable support to Felderhoff, helping to ensure a smooth transition while positioning the company for sustained growth.
Technology at the Forefront: Christian Reinhard’s Appointment
The appointment of Christian Reinhard as the new Management Board member responsible for Technology and Development is another significant move in the leadership restructuring. Reinhard steps into this role following the retirement of Werner Kurt Schroer, who spent 19 years at Merkur and will remain with the company in an advisory capacity due to health concerns.
Reinhard’s appointment reflects Merkur’s focus on technological innovation as a key driver of future growth. With more than two decades of experience in the automotive electronics sector, Reinhard brings a wealth of expertise in advanced technologies, such as navigation systems and connected-car systems, to his new role. This skill set is expected to enhance Merkur’s capabilities in developing cutting-edge products and solutions that meet the evolving demands of the gaming industry.
Paul Gauselmann’s comments on Reinhard’s appointment underline the importance of continuity in the area of development. Reinhard’s blend of experience and fresh ideas will be crucial as the company seeks to maintain its competitive edge in a technologically driven market.
The Gauselmann Family’s Ongoing Influence: Michael Gauselmann Takes the Reins
As part of the broader generational shift within the company, Michael Gauselmann, the son of Paul Gauselmann, will take on significant leadership roles within the family’s business empire. He will assume the position of Chairman of the Supervisory Board while also succeeding his father as Chairman of the Board of Directors of the Gauselmann Family Foundation.
Michael Gauselmann has been with the Merkur Group since 1982 and has been instrumental in its international expansion. Notably, he oversaw the establishment of Atronic, a Merkur subsidiary, in 1993, which played a key role in the group’s global reach. His deep involvement in the company over the years positions him well to carry forward the family’s legacy, ensuring that the Gauselmann name remains synonymous with innovation and growth in the gaming industry.
His new roles will allow him to maintain the family’s influence over the company’s strategic direction, while also playing a more active part in its governance.
A Broader Generational Shift and Strategic Continuity
The leadership changes at Merkur Group represent a broader generational shift, with long-serving members of the Gauselmann family stepping into new roles to ensure the company’s continued success. At the same time, the company’s commitment to continuity is evident in its careful selection of new leaders, all of whom bring deep experience and expertise to their respective positions.
This change is not just about passing the torch from one generation to the next but also about ensuring that the company remains agile and forward-thinking. By appointing individuals like Christian Reinhard to lead technology and development, Merkur is signaling its intention to stay at the forefront of innovation in the gaming industry. This is crucial at a time when the sector is undergoing rapid transformation due to advances in technology, changes in consumer behavior, and evolving regulatory environments.
Looking Ahead: Challenges and Opportunities for Merkur Group
With annual revenues of approximately €4 billion, the Merkur Group is a major player in the global gaming industry. However, as the company enters this new chapter of leadership, it faces several challenges and opportunities.
One of the primary challenges will be navigating the increasingly complex regulatory environment surrounding the gaming industry. As governments worldwide implement stricter regulations to protect consumers and ensure fair play, Merkur will need to adapt its operations and products to meet these new standards. Manfred Stoffers’ expertise in political affairs will be vital in helping the company navigate these challenges.
At the same time, technological innovation presents significant opportunities for growth. With Christian Reinhard at the helm of technology and development, the company is well-positioned to explore new frontiers in gaming technology, such as artificial intelligence, virtual reality, and mobile gaming platforms. These innovations could open up new markets and revenue streams for the company.
Paul Gauselmann’s decision to step down after 67 years marks the beginning of a new era for the Merkur Group. Under the leadership of Lars Felderhoff, supported by Jürgen Stühmeyer, Manfred Stoffers, and Christian Reinhard, the company is poised to continue its growth trajectory while embracing new opportunities in technology and adapting to an evolving regulatory landscape.
The involvement of the Gauselmann family, particularly through Michael Gauselmann’s new roles, ensures that the company will retain its founding values and strategic vision while remaining agile enough to navigate the challenges ahead. As the Merkur Group enters this new phase, it is well-positioned to maintain its status as a leader in the gaming industry and to continue its legacy of innovation and expansion.