The octogenarian chief of Haribo has shaken up the management of the German confectionery giant and invited his nephews to join the board of the company.

Dr Hans Riegel, who has led Haribo since 1946, said yesterday (6 September) that the company had set out its “course for the future” with the changes to its management.

Haribo was founded in 1920 and Dr Riegel and with his younger brother Paul took on the business after World War II. Paul died last year, with his shares passing to his two sons, Hans-Guido and Hans-Arndt Riegel.

Dr Riegel and his two nephews have agreed on a new structure for the business. The 87-year-old will remain in charge of sales and marketing, while Hans-Guido, 44, will be responsible for production and technology.

Hans-Arndt, 42, will be chairman of the four-member supervisory board of Haribo Holding, the new holding company overseeing the sweets maker.