Flossbach von Storch is changing its legal structure. As the firm explained in a statement, the company will transition from an Aktiengesellschaft (AG – joint-stock company) under German law to a European company, Societas Europaea (SE) – Flossbach von Storch SE, in the fourth quarter of 2024. “We are not only long-term investors but also founders and owners of a company. In this sense, succession planning is essential for us. The legal form of the SE gives us the opportunity to create an institution for future generations. We still have much to achieve together,” explained Kurt von Storch, founder and owner of Flossbach von Storch.
Additionally, it was announced that the two company founders, Bert Flossbach and Kurt von Storch, will join the Board of Directors, alongside Johanna Hey, who was previously a member of the Supervisory Board. The current members of the Executive Board, Tobias Schafföner, Till Schmidt, and Marcus Stollenwerk, will form the Management Board. They highlighted that the greater flexibility of an SE’s board of directors, compared to a Supervisory Board under an AG, is something medium-sized companies can benefit from in succession planning and ensuring 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 to ensure the long-term retention of the company’s key executives. Additionally, younger profiles have been brought into the Executive Board, and leadership responsibilities have been distributed across multiple leaders. “The change in legal form is another step forward,” said Bert Flossbach.
They also noted that Flossbach von Storch has grown favorably and become increasingly European. Currently, the company has employees working in Italy, Spain, Switzerland, Austria, Luxembourg, and Belgium. The change in legal structure also reflects the company’s growing international focus, which is expected to continue in the future. The registered headquarters and main office will remain in Cologne.
For Funds Society, Madrid