Change in Leadership after 30 Years

Knut Menshen takes his leave; Lutz Menshen and Jörg Deutz take over

The CEO of LUKAD Holding, Knut Menshen, will be retiring from the family enterprise's business operations. He had already divested the majority of his shares in the company and will step down from his position as Managing Partner at the end of the year. Jörg Deutz, who has been with the company for nearly 15 years, has already been CEO of LUKAD since April 1, 2016 and will follow Knut Menshen in that position. In the future, the shareholding family will be represented by Lutz Menshen, Knut Menshen's brother and CEO of Arnold MENSHEN.

Knut Menshen joined the family business in 1988. After his father Arnold Menshen had built the company, Knut Menshen went on to drive its internationalization and to successfully develop the company to this day. Now he wishes to devote more time to his private interests. He will continue to serve the Group as a consultant on strategic matters.

The shareholding family discussed the leadership changes at great length and reached a consensus. The family has the intention to maintain the ownership of the Group for the long term and the company's special culture and values will also remain unchanged. Besides the new CEO Jörg Deutz, Dr. Matthias Papenfuß will be joining STAUFF as an additional Managing Director. Before that, Dr. Papenfuß had worked for STAUFF as an outside consultant for more than 10 years.

"I am convinced that Jörg Deutz is an excellent manager for our entire enterprise. He has known our company for a long time, and he has my trust and that of the whole family," says Knut Menshen. "Together with my brother Lutz, he will drive the Group forward. And with Jörg Deutz and Matthias Papenfuß, we also have a strong team at STAUFF." Otherwise, the management team will remain unchanged.

"A vote of confidence on the part of the Menshen family"

Mr. Menshen, you are handing over the reins at LUKAD. Why?

Knut Menshen: I admit that my heart is heavy these days. However, I did take of course my time to think this decision over. I devoted myself to our family company for 28 years and the work fulfilled me and gave me a lot of joy. Now I would like to have more time for my private interests.

Will anything change because of the transition in the holding company's leadership?

Knut Menshen: My siblings and I thought about how we could position the company so that the change at the top would go as smoothly as possible for the company. I am very satisfied with the outcome. My brother Lutz and my longtime confidant Jörg Deutz will be a good team. Together with Wolfram Kobusch and Dr. Matthias Papenfuß, they will develop and drive the company forward.

Mr. Deutz, how does it feel to be at the helm of a company that has only ever been headed up by members of the founding family?

Jörg Deutz: It is certainly a big vote of confidence on the part of the Menshen family, which I very much appreciate I find it easier to shoulder this responsibility because I have known this company for such a very long time and so well; and I know the STAUFF Group like the back of my hand. But of course being responsible for the entire company and all aspects of the
business is another matter.

Mr. Menshen, how is the work to be divided up between you and Mr. Deutz?

Lutz Menshen: We collaborate very closely and on call, as it is common practice at our company. Nevertheless, we have different roles. My job will be to be in critical discussion with our management and to determine if we are still heading in the right direction.

Dr. Papenfuß, what do you expect from your new position alongside Jörg Deutz?

I am pleased to have the privilege of supporting the innovation and growth of STAUFF in the years ahead. I have known the company for more than ten years and during this time for example advised the Menshen family and Jörg Deutz how to implement its global structures successfully. I get along well with Jörg Deutz. We have collaborated exceptionally well in the past and will surely do so again in my new capacity. My focus will be mostly on efficient project  management.

Mr. Kobusch, you have been with the company since 2003. Are you surprised by Knut Menshen's departure?

Wolfram Kobusch: Knut Menshen's retirement certainly marks a turning point. But the family has assured us all that it will remain steadfastly committed to its company for the long term. And I knew Jörg Deutz before I joined MENSHEN. We have experienced a great deal together and I trust him absolutely.

Mr. Deutz, how do you aim to lead the holding?

Jörg Deutz: The secret to success is very clear from where I stand: stay down to earth, reliable, and appreciate and respect one another regardless of the opposite party's place in the company and posting in a region of the world. But this also means that you can't allow yourself to get complacent. Continuity means staying dynamic — that's my credo. And I will do this, leading by example and expecting it from others. We hold a good position in the Hydraulics and Plastics business, but to stay one idea ahead of the others, we must always remain alert and curious, invest, and have the courage to explore new avenues.

Will you miss the work, Mr. Menshen?

Knut Menshen: I will continue taking an interest in the Group and the industries. Perhaps a more distanced view will help me give to the Group some good advice here and there. The company has been my life for nearly three decades and will therefore always remain part of it.


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Lutz Menshen, Knut Menshen and Jörg Deutz
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