Michael Herz (entrepreneur)

Michael Herz (born September 28, 1943 ) is a German entrepreneur. He is the third oldest son of Max Herz (1905–1965) and Ingeburg Herz . The Herz family owns Maxingvest AG, the parent company of the operational subgroups Tchibo GmbH and Beiersdorf AG ; several family members own shares.

In the 1980s there were differences between Michael Herz and his older brother Günter ; as a result, Günter Herz left the company.

In 2002 the Tchibo shares in Reemtsma were sold for six billion euros. This made it possible to pay severance payments to several Herz family members after a family dispute nearly blocked the management of Tchibo for some time. Günter Herz and his sister Daniela Herz-Schnoeckle have now retired from the management of Tchibo after a severance payment of billions, and Michael Herz became the largest shareholder.

Michael Herz bought and restructured the book wholesaler Libri and the florist Blume 2000 , and through his efforts he prevented the break-up of Beiersdorf AG . His investment in Escada turned out to be a failure and ended in bankruptcy.

In 2003, he was one of the ten richest Germans with an estimated fortune of 5.1 billion euros .

Web links

Gunhild Freese: When siblings play with billions. In: The time. March 14, 2002, accessed September 14, 2014 .
Birger Nicolai: Tchibo changes boss. In: The world. November 22, 2006, accessed September 14, 2014 .
Daniela Stürmlinger: The shy entrepreneur. In: Hamburger Abendblatt. June 4, 2004, accessed September 14, 2014 .
Michael Heart. In: Wirtschaftswoche. Retrieved September 14, 2014 .
The Tchibo story - ZDFzeit from October 4, 2016 Video from ZDFmediathek

Individual evidence

↑ Claudia Rach: Escada Denies Herz Brothers Turnaround Coup as Company Crumbles. In: Bloomberg. August 13, 2009, accessed September 14, 2014 .
↑ Carsten Dierig: Fashion group Escada is on the verge of bankruptcy. In: The world. April 28, 2009, accessed September 14, 2014 .
^ Billionaires in Germany A - F. In: marx-forum.de. 2003, accessed September 14, 2014 .

personal data
SURNAME	Heart, Michael
BRIEF DESCRIPTION	German entrepreneur
DATE OF BIRTH	September 28, 1943

[1] Claudia Rach: Escada Denies Herz Brothers Turnaround Coup as Company Crumbles. In: Bloomberg. August 13, 2009, accessed September 14, 2014 .

[2] Carsten Dierig: Fashion group Escada is on the verge of bankruptcy. In: The world. April 28, 2009, accessed September 14, 2014 .

[3] Billionaires in Germany A - F. In: marx-forum.de. 2003, accessed September 14, 2014 .