Merkur Group founder to step down as chairman after 67 years at the helm

Paul Gauselmann, the founder of the Merkur Group, will resign as chairman after holding the position for 67 years, leading to upcoming personnel changes within the company. Effective October 1, Lars Felderhoff, the group's CFO, will take over leadership, with support from deputy chairmen Jürgen Stühmeyer and Manfred Stoffers, who will manage sales and marketing, respectively.

"It's been my long-term goal to reorganise the company before I turn 90. We have achieved this effectively and are set up for a strong future," stated Paul Gauselmann.

Lars Felderhoff has been responsible for the financial management of the gaming machine group for six years and has prior experience at GTech (now IGT) and Merkur subsidiary Metro Cash & Carry International. In his earlier tenure at Merkur Group, Felderhoff functioned as the chief commercial officer for the ADP division.

Additionally, Gauselmann Sr. will pass on the leadership of the Merkur Group Supervisory Board and the family charitable foundation to his son, Michael. Paul Gauselmann humorously remarked, “The time has come to hand over my life's work to the younger generation.”

Michael Gauselmann joined Merkur Group in 1982 after earning a business administration degree. In 1993, he established the subsidiary Atronic and managed its international operations. He served as deputy chairman of the management board for a decade before taking on the role of co-chairman alongside Paul Gauselmann from 2004 to 2012.