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Case Study

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

By Peter Vogel and Anouk Lavoie Orlick

3 pages

April 2025

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Reference: IMD-2656

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. In Case B of “Co-CEOs at Handtmann: Can the Family Business be led in Tandem?” the focus shifts to the next generation. Markus Handtmann and Valentin Ulrich, cousins from the fifth generation of the founding family, have been appointed as co-CEOs. They must now learn to work together in tandem. The president of the advisory board, who is the father and uncle of the new CEOs, respectively, has stepped down from leading the company and now embraces a supporting role. Case B explores strategies for designing effective co-leadership partnerships. It also highlights the importance of complementarity in successful tandems. Lastly, the case presents the foundational elements that enable co-CEOs to succeed in family firms.

Learning Objective

Evaluate the role of complementary leadership in managing complexity
Assess organizational and cultural factors critical for co-leadership success
Develop strategies for structuring and maintaining effective co-leadership partnerships

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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