Michael Herz |
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Michael Herz (1946-) is the owner of the family-owned Tchibo Holding, one of Germany's largest retail groups. Last August he and two brothers bought out Günter and sister, Daniela, for an estimated $5 billion. With the dispute resolved, the remaining family members faced no resistance bidding for a larger stake in Beiersdorf, maker of Nivea products.
Tchibo now owns nearly half, assuring that the company, also courted by L'Oréal and Procter & Gamble, remains in German hands. Word is Michael and brother Wolfgang, whose each own 34% of Tchibo, have emerged as the key players in the business. Brother Joachim with his 15% share apparently plays a lesser role.
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