ANALY SIS
THE STRATEGY
NEVER GETS ENACTED
YOU HOPE
A 30
fter a week, hopes of finding fifth- generation retail tycoon Karl- Erivan Haub alive were fading. The search for the 58-year-old German billionaire—who failed
to return from a solo skiing trip on 7 April—had turned from a rescue effort to a body recovery. Meanwhile, his family were forced to cope
with dual shocks: Their personal grief, and the business turmoil associated with losing the head of their multi-billion-dollar grocery dynasty, Tengelmann. “This accident is for the Haub family, but
also for the family business, a terrible and incomprehensible tragedy,” says Sieglinde Schuchardt, spokesman for the Tengelmann Group, which is owned by the founding Scholl/ Haub family.
CAMPDENFB.COM
Substantial wealth is no defence against the vagaries of life, so what can families do to prepare when tragedy strikes and the stakes are huge? James Beech reports
Karl-Erivan was the great-great-grandson of
Wilhelm Schmitz-Scholl and his wife Louise. The couple opened their Mülheim grocery business in 1867, which has grown from its humble beginnings into a major retail enterprise with operations in 20 countries and more than 70 holdings on every continent of the world. As managing director, Karl-Erivan had
overseen the company’s European division since 1997. Tengelmann marked its 150th anniversary in 2017 with consolidated net revenue of €9 billion ($11.1 billion), up 8.9% on the previous year. The group announced later in April that Karl-
Erivan’s younger brother Christian Haub (53) had taken over as chief executive and the loss “does not threaten the continued existence of our family company”.
ISSUE 73 | 2018
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