Fuchs Petrolub handed its CEO seat to a 35-year-old heir with a seasoned deputy beside him

Fuchs Petrolub was founded in Mannheim in 1931 and remained family-owned. In 2004 the handover from the second to the third generation came due: Stefan Fuchs, then 35, was to become CEO, succeeding his father Manfred.

To give the young CEO 'a certain seniority,' the company promoted CFO Alexander Selent to deputy chairman of the executive board — a novelty in Fuchs's history. The pair complemented each other, with the family's interests always in view at the listed but family-run company.

The arrangement worked: Fuchs grew into the world's largest independent lubricant manufacturer, and by 2015 the share price had risen from about €1 in 1999 to over €40, with market capitalization above €5 billion. In 2017 Manfred's daughter Susanne took over as chair of the supervisory board, completing the family's new governance structure.

Under Stefan Fuchs the family firm became the world's largest independent lubricant maker, with market value past €5B by 2015, from a share price near €1 in 1999.

The deputy-CEO construct bridged the generations without blocking the heir.

International growth gave the young CEO expansion rather than mere maintenance.

The family stayed united, planning roles for both children without disputes.

When a young heir takes over, add institutional seniority: Fuchs promoted its CFO to deputy CEO — a company first — so the new leader had experienced counsel beside him while growing the business.

Stefan Fuchs remained CEO into the 2020s, while Susanne Fuchs later also took over the management of Rudolf Fuchs GmbH & Co. KG in 2024, keeping the company in family hands.