Flossbach von Storch will change its legal form and become a European company
19 SEPT, 2024
Flossbach von Storch (the parent company of Flossbach von Storch Invest) is changing the legal form of the company. The 'Aktiengesellschaft' (AG – public limited company) according to German law, will become a European company, 'Societas Europaea' (SE) – Flossbach von Storch SE. The change is expected to materialize in the fourth quarter of 2024. The registered office and the main office will continue to be in Cologne.
The two company founders, Dr. Bert Flossbach and Kurt von Storch, will join the Board of Directors, as will Prof. Johanna Hey, who was previously a member of the Supervisory Board. The current members of the Executive Board, Dr. Tobias Schafföner, Dr. Till Schmidt and Marcus Stollenwerk, will form the Board of Directors.
The greater margin of maneuver that the board of directors of an SE has, compared to the Supervisory Board of an AG, is something that medium-sized companies can benefit from when planning succession, as well as in the sustainable orientation of the company.
In recent years, Flossbach von Storch has been taking steps to prepare the company for the future. For example, a partnership model has been implemented designed to ensure the long-term retention of the company's key executives. In addition, younger profiles have been incorporated into the Executive Board and responsibility has been distributed among several leaders.
Growth of Flossbach von Storch
Also, in recent years, Flossbach von Storch has grown favorably and has become increasingly European. Currently, the company has employees working in Italy, Spain, Switzerland, Austria, Luxembourg, and Belgium. The change in legal form also reflects the growing international orientation of the company, which is likely to continue in the future.
The change in legal form is another step forward. We are not only long-term investors, but also founders and owners of a company. In this sense, early succession planning is an essential topic for us. The legal form of the SE gives us the opportunity to create an institution for future generations. We still have a lot to achieve together.
Kurt von Storch, founder and owner of Flossbach von Storch
