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Case Study

Co-CEOs at Handtmann: Can the family business be led in tandem? (A)

By Peter Vogel and Anouk Lavoie Orlick

16 pages

March 2025

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Reference: IMD-2655

The Handtmann case examines the co-CEO leadership model in the context of family business. Based on interviews with three key executives – the co-CEOs and the president of the advisory board – the case focuses on how Handtmann handled the leadership transition to the next generation. Starting with a history of the five generations at the head of Handtmann, Case A offers a window into the succession process of a well-established European family business. The case analyzes the potential risks and rewards of appointing co-CEOs in a privately held family business. From a governance perspective, the case assesses how organizational culture, governance systems and ownership structures contribute to creating a conducive environment for co-CEOs to thrive. Established in 1873 as a brass foundry, Handtmann has evolved into a global technology company that employs 4,300 people, with 2,700 based at its headquarters in Biberach an der Riss, Germany. Handtmann offers highly specialized production and services to clients in the automotive industry, the chemical and pharmaceutical industry, among others. It is also the world leader in the manufacture of fillings and portioning systems for the food industry and a leading supplier of fittings and process systems for the beverage industry. More recently, the Group has also ventured into the development of electronic systems. The business has remained under the stewardship of the Handtmann founding family for 150 years.

Learning Objective

Understand the advantages and challenges of co-CEO leadership models in family businesses
Identify key elements of governance and support in family business leadership transitions

Keywords

Family Business, Corporate Governance, Leadership, Succession, Chief Executive Officer, Governance, Board of Directors, Ownership, Next Generation, Decision Making

Settings

Europe, Germany
Handtmann Group, Construction and Engineering, Industrial Engineering, Manufacturing, Machinery
1873-2023

Type

Field Research

Available Languages

English

Related material

Teaching note, Video

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This case study is part of a series

Co-CEOs at Handtmann: Can the family business be led in tandem? (A)
Co-CEOs at Handtmann: Can the family business be led in tandem? (B)

This case study is part of a series

Co-CEOs at Handtmann: Can the family business be led in tandem? (A)
Co-CEOs at Handtmann: Can the family business be led in tandem? (B)

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Case Study

Co-CEOs at Handtmann: Can the family business be led in tandem? (B)

The Handtmann case examines the co-CEO leadership model in the context of family business. Based on interviews with three key executives – the co-CEOs and the President of the Advisory Board – the case focuses on how Handtmann handled the leadersh...

Family Business Corporate Governance Leadership

By Peter Vogel and Anouk Lavoie Orlick