Felix Ahlers, son of boss Dirk Ahlers and current marketing director, will take up the reigns of the company on Jan. 1.

Meanwhile, his father, now 72, announced he is to retire and, therefore, resign from the positon.

It is believed that Dirk Ahlers will put forward his candidacy for the Chairman position on the company’s supervisory board after current Chairman Herbert Muffelmann announced he will step down at the next annual shareholders’ meeting in June.

Meanwhile, new recruit Hinnerk Ehlers will replace Felix Ahlers as Chief Executive of Marketing and Sales.