GERMANY: Tchibo without CEO after family squabbles lead to irreparable breakdown in trust
Family squabbles are threatening the future expansion of one of Germany's largest family-owned companies, Tchibo , culminating as they did on Wednesday (10 January) in the resignation of CEO Gunter Herz. The head of the enterprising Herz family, 60 year-old Gunter blamed an "irreparable breakdown in trust" for his departure from the helm of the coffee, cigarette and cosmetics group after 35 years. He said he would leave the company on 31 January, and as yet no successor has been named.
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