Generational change
Changes are taking place at the top of Endress+Hauser at the beginning of 2024. Klaus Endress will relinquish his duties as President of the Supervisory Board. He will be succeeded by CEO Matthias Altendorf. Taking over the reins of the Group will be Peter Selders, currently Managing Director of Endress+Hauser Level+Pressure.
Dr Klaus Endress (born 1948) has repeatedly stated his intention to give up his responsibilities as President of the Supervisory Board when he reaches the age limit of 75. While he will continue to head up the Family Council, he will no longer take an active role in the company.
Endress, the second-eldest son of the company founder, has made his mark on Endress+Hauser for nearly 45 years. Much of the company continues to bear his signature. At the same time he has spent many years preparing a generational change in the shareholder family. Considerable thought and extensive discussions went into the decisions, which were made with the mutual agreement of the shareholders, the family and the Supervisory Board. The departing President of the Supervisory Board emphasized that “we have filled all of the positions with competent people we know and trust, and who embody our culture”.
INTERNAL SUCCESSION
Effective 1 January 2024, Matthias Altendorf will move to the Supervisory Board as President. The shareholders view him as the person best suited for the job, says Klaus Endress. “He has known our company for 35 years and has led the Group with prudence and success for nearly a decade. Mr Altendorf further-more embodies our culture in an exemplary manner and stands for the values that define our company.”
Dr Peter Selders will take over the reins as CEO. The 53-year-old executive, who holds a PhD in physics, joined Endress+Hauser Level+Pressure in 2004 and has led the product center since 2019. “Mr Selders has demonstrated that he can lead and inspire people, that he lives and breathes our culture and is capable of successfully growing a large organization,” says Klaus Endress.
He will be supported in his new role as CEO of the Group by Matthias Altendorf, who will make his full experience and knowledge available. The new CEO will also have the backing of the Executive Board, whose composition remains unchanged. Succeeding Peter Selders will be 49-year-old Dr Dirk Mörmann, currently Director of Technology and a member of the management board at Endress+Hauser Level+Pressure.
SECOND REPRESENTATIVE OF THE FAMILY
As before, the shareholder family will be represented on the Supervisory Board by two members. As well as Sandra Genge, who became a member in 2022, Steven Endress will have a seat on the board effective 1January2024. The 44-year-old grandson of the company founder has worked at Endress+Hauser since 2012 and took over as Managing Director of Endress+Hauser UK in 2016. As of 1 May 2023, the fortunes of the United Kingdom sales center will be in the hands of 51-year-old Iain Cropper, currently Director of Operations and a member of the management board.
A family affair: departing President of the Supervisory Board Klaus Endress (left) with the two Supervisory Board members Sandra Genge (as of 2022) and Steven Endress (starting 2024).
Close relationships
Two non-members of the shareholder family will sit atop the Endress+Hauser Group in the future. The family will nevertheless remain linked to the company in diverse ways. One of the keys is the Family Charter, whose vision states: “Endress+Hauser shall remain a successful family company. The family will continue to have a formative influence on the company.” The charter creates the necessary framework. It strengthens solidarity within the family by means of clear principles and established institutions, regulates participation in the company and introduces young members of the family to the business.
The most important institution in this context is the Family Council, an advisory body that serves as the link between the family and company and makes the major decisions regarding the relationship between the shareholders and the Group. One special role is supporting young members of the family who wish to work in the company. While the company is open to having family members work at any level, including internships or apprenticeships, they must compete on equal footing with other candidates. Family members who wish to lead one of the Group companies or the Group itself must exhibit the corresponding qualifications and experience.
NUMEROUS G ATHERINGS
The more than 70 members of the family meet at larger gatherings several times a year. The Supervisory Board and the Executive Board report to the shareholders at the Annual General Meeting. The day before, the Family General Meeting deals with the development of the Group in a larger setting. Family Day, which is held at a different location each year, combines family get-togethers with insights into the business. At the Family Camp the younger generation gets to know one another and the company better. The family also celebrates Christmas together.
Published 29.03.2023, last updated 28.04.2023.
Dive into the world of the process industry through new exciting stories every month with our «changes» newsletter!
Subscribe to newsletter
