Generation change 4.0 at Ottobock

DUDERSTADT, GERMANY. Prof. Hans Georg Näder’s youngest daughter, Georgia, will in future be representing the family on Ottobock’s supervisory board, which is currently being formed. Otto Bock HealthCare GmbH, based in the German state of Lower Saxony, is undergoing the conversion to an SE & Co. KGaA. Georgia Näder will therefore also be enlisted to the executive board of Otto Bock Holding GmbH & Co. KG. The holding company possesses an 80 per cent share in Otto Bock HealthCare GmbH and is 100 per cent owned by the Näder family.

Georgia (20) is currently studying business and marketing in Barcelona. Näder’s older daughter, Julia (26), is being appointed to the board of the Ottobock Global Foundation. She is currently completing an internship at Ottobock in Argentina as part of her business studies degree.

Following nearly three decades in his role as CEO at Otto Bock HealthCare GmbH, Prof. Hans Georg Näder (56) will be assuming the leadership of the supervisory board of the future Ottobock SE & Co. KGaA as chairman of the board. Dr Oliver Scheel (49) will take over the role of CEO on 15 January 2018.

The appointment of Dr Scheel, a long-time partner and managing director at consulting company A.T. Kearney and head of their pharma, medical technology and healthcare department who possesses extensive expertise in the subject of transformation management, represents the first time in Ottobock’s history that a manager from outside the family has taken the helm of the German-based “hidden champion” and global market leader in the field of technical orthopaedics. Dr Scheel gained in-depth industry experience at Beiersdorf and L'Oréal during his early career.

“I have been fully and completely impressed by Dr Oliver Scheel. We have already been long acquainted thanks to successful projects here at Ottobock,” said Prof. Näder.

“I am looking forward to my new role immensely,” said Scheel. “Leading a company like Ottobock is a fantastic assignment. We are investing in new technologies, developing new business models, enhancing the quality of treatment and digitising our industry. A consistent focus, rapid processes, streamlined structures and clear responsibilities are the keys to success here and will enable us to respond to the needs of our customers and users even more quickly and flexibly.”

Following more than three decades as Näder’s copilot within company management, longtime CFO Harry Wertz (60) will in future be looking after the onboarding of the fourth generation of the Näder family at the Ottobock Group and supporting the HGN Start-up Incubator as well as the Näder Family Office as he continues his role as CEO of Otto Bock Holding GmbH & Co. KG. “Harry Wertz has played a huge role in our company’s continued success over the past three decades,” said Prof. Näder.

The head of the Näder Family Office, Stefan Hirsch (45), was also enlisted to the executive board of Otto Bock Holding GmbH & Co. KG as part of the developments within the company.

Valued at around 3.2 billion euros and at an approx. 21x EBITDA, German-based global market leader Otto Bock HealthCare GmbH was evaluated as “best in class” as part of a bidding process won by Swedish private equity company EQT, which now holds a 20 per cent share in Otto Bock HealthCare GmbH. Over the next five to seven years, the owner family and the private equity investor will be working towards their shared goal of engaging in value creation and growing at an even more rapid pace thanks to targeted M&A activities and a focus on digital transformation.