After 55 years, there is this well-prepared transition to the third generation of the Otto family. How do you both feel about it?

Dr. Michael Otto: I feel very good because I have a good feeling about the handover. With Benjamin, an experienced entrepreneur becomes Chair of the Michael Otto Foundation and the Shareholders’ Council, who thinks strategically and acts in a value-oriented manner. As CEO, Petra Scharner-Wolff possesses outstanding leadership and executive skills. I am delighted to have recruited Petra to this C-suite position because I have always promoted women into management. As Chair of the Supervisory Board, Alexander Birken has extensive experience, is familiar with the strengths and weaknesses of the Otto Group and knows the management team very well.

Benjamin Otto: I am delighted to be starting out with this broad and competent team. On a personal level, this is a very exciting time for me right now. I have spent the majority of my professional life as an entrepreneur, managing director and founder – including of About You – and as a constitutive shareholder preparing to shoulder the main responsibility at the Otto Group. Now the time has come. I feel joy and responsibility at the same time – but the joy outweighs the responsibility.

The process of generational succession was entirely harmonious. How did the two of you manage to succeed where many other family businesses stumble?

Benjamin Otto: There were certainly moments of friction and adjustment as well. But this is just part of the transition process. Friction creates energy. And if you take enough time to talk, as we did, you can channel the energy in a positive direction. That’s something we have always managed.

Dr. Michael Otto: I agree, regular dialog was certainly very helpful. We also made important decisions jointly in recent years. We benefit from the fact that we share the same values

Can you describe the state of the Otto Group from your perspectives?

Benjamin Otto: My grandfather laid the foundation with his vision of mail-order shoe sales, value-oriented business practices and foresight. My father transformed a medium-sized German mail order company into an internationally active and diversified retail and services group. There has been a stiff increase in competition, and the environment is becoming more and more volatile. At the moment, there is real strain on the economic, political and social systems. Adding to this is the evolutionary leap in technology associated with the rapid advances in artificial intelligence - a transformation that is also essential in order to remain competitive in the long term. It is fantastic that the Otto Group can hold its own in this environment. But continuous adaptation and reinvention will still be necessary. We are currently experiencing this kind of profound phase of transformation. My aim going forward is to ensure that this Group continues to stand on a stable economic, value-oriented foundation in the future and develop a pioneering role in the technology sector.

Dr. Michael Otto: Despite the need for improvement, the Otto Group has a strong foundation and a sound financial basis, is at the forefront of digitization and is well equipped for the future. Come what may, we will uphold our values even in difficult times. Digital development is particularly crucial in e-commerce – and we are excellently positioned in the area of artificial intelligence (AI) to rise to future challenges. The same applies to the application and deployment of robotics in logistics.

Can you describe the biggest challenges that the Otto Group will face in the coming ten to 15 years?

Dr. Michael Otto: One major challenge is certainly the constant change in the economic and political environment, especially in regard to international trade rules. This applies not only due to changing tariffs but also non-tariff trade barriers. Fair competitive conditions are also important. Besides this, we need to prepare for major investments in technology and AI in particular in order to remain competitive.

Benjamin Otto: Rapid technological developments, especially AI, will significantly change the economy, industry and society – even more than the advent of the internet. What will matter most for the Otto Group is to continue strengthening adaptability and to become even more resilient. This applies to all dimensions that a corporate group needs to consider – whether it’s the employees, technologies or finances. Although this will be challenging, it also holds huge opportunities that we are already seizing with an eye to the future, for example in the areas of Gen AI and Agentic Commerce

Benjamin, with regard to how your father shaped the Otto Group: what will you take with you moving forward? And where will you seek – and manage – to leave your own mark on the company?

Benjamin Otto: My father succeeded in making the Otto Group a special place – a company that people enjoy working for. This secret formula is hard to describe, but it certainly has a lot to do with respect and appreciation towards employees, business partners, customers and other stakeholders – and undoubtedly also with trust. I would like to maintain this culture of trust, but also leave my own mark, of course. For me, it's all about developing individual potential and the power of community, which I believe can move mountains.