Michael Otto’s Entrepreneurial Legacy and Sustainable Vision Shape Otto Group Ahead of Leadership Transition

Michael Otto’s Entrepreneurial Legacy and Sustainable Vision Shape Otto Group Ahead of Leadership Transition

(IN BRIEF) Prof. Dr. Michael Otto will hand over primary responsibility for the Otto Group to his son Benjamin Otto on 1 March, concluding more than five decades of leadership that transformed the family-founded Otto-Versand into a global digital retail and services group. Michael Otto’s career has been marked by early adoption of digital commerce, international expansion and a strong commitment to sustainability and social responsibility. He played a leading role in building one of Europe’s largest e-commerce businesses and integrating environmental and social standards into corporate strategy. Alongside his business achievements, he established multiple foundations and initiatives focused on environmental protection, sustainable development and social engagement. After the transition he will continue his philanthropic activities and public engagement while remaining Honorary Chair of the Supervisory Board.

(PRESS RELEASE) HAMBURG, 24-Feb-2026 — /EuropaWire/ — Prof. Dr. Michael Otto will transfer primary responsibility for the Otto Group to his son Benjamin Otto on 1 March, completing a carefully planned generational transition that concludes a highly influential leadership period. Over more than five decades, Michael Otto has built a reputation as one of Europe’s most distinguished entrepreneurial figures, combining commercial success with a strong commitment to social responsibility and environmental stewardship. His career has been shaped by innovation, long-term thinking and a belief that economic performance must go hand in hand with sustainable development.

Michael Otto joined the family business in 1971 and played a central role in transforming Otto-Versand, founded by his father Werner Otto, into an internationally active digital retail and services group. Over the years he served as Chair of the Executive Board, later as Chair of the Supervisory Board and Chair of the Foundation and Shareholders’ Council. The Otto Group today generates around €15 billion in annual revenue and employs approximately 35 000 people worldwide. Following the transition, Michael Otto will remain closely connected to the company as Honorary Chair of the Supervisory Board.

German President Frank-Walter Steinmeier has recognised Michael Otto’s achievements, describing him as an entrepreneur who combines modern digital expertise with traditional business values and who understands that long-term business success depends on strong connections to society.

Michael Otto was born on 12 April 1943 in Kulm in what was then West Prussia, now Chełmno in Poland. After the Second World War his family settled in Hamburg, where he grew up and developed an early interest in entrepreneurship. He began his career with a banking apprenticeship at Merck Finck & Co. in Munich before studying economics and completing a doctorate. While still a student he founded his own business specialising in real estate and financial brokerage.

In 1971 he joined Otto-Versand as the youngest member of the Executive Board and took responsibility for textile purchasing. From 1981 until October 2007 he served as Chief Executive, guiding the company through a period of major expansion and internationalisation. He introduced the company to global markets and expanded its business models beyond traditional mail order. From 2007 until 2025 he chaired the Supervisory Board, continuing to shape the Group’s strategic development.

Michael Otto was an early advocate of digital transformation. In the mid-1990s he expanded the company’s e-commerce activities alongside catalogue sales and physical retail operations, laying the groundwork for the Otto Group’s position as one of Europe’s largest e-commerce companies. Under his leadership the otto.de marketplace was developed into a platform where more than 6 500 predominantly European retailers now sell their products, creating a strong regional digital commerce ecosystem.

Environmental responsibility became a key strategic priority under his leadership beginning in the 1980s. The Otto Group introduced environmental management practices, promoted sustainable products and integrated social and environmental standards into business operations. Michael Otto consistently emphasised that economic activity must serve society and contribute to long-term environmental protection, earning recognition as a pioneer of sustainable corporate leadership.

Alongside his business career, Michael Otto has established numerous philanthropic initiatives. The Michael Otto Environmental Foundation, founded in 1993, focuses on protecting natural ecosystems and supporting sustainable development. Additional initiatives include the Climate Economy Foundation, which promotes the transition to a climate-neutral economy, and the Aid by Trade Foundation, launched in 2005, which supports sustainable development through market-based initiatives such as Cotton Made in Africa. In 2024 he founded the Michael Otto Foundation for Sustainability to support biodiversity and democratic values.

His philanthropic engagement also includes support for youth and cultural programmes such as the Young ClassX music initiative and the HANZ secondary school model. He has contributed significant financial support to cultural and educational projects across Hamburg.

Looking ahead, Michael Otto intends to continue contributing to public debate on environmental and economic transformation through his foundation work. Among his initiatives is the Stiftung KlimaWirtschaft, which he co-founded together with business leaders to promote policy frameworks supporting the transition to a climate-neutral economy. He is also actively involved in the Hamburg Sustainability Conference, which he launched together with the Federal Ministry for Economic Cooperation and Development, the United Nations Development Programme and the City of Hamburg to promote solutions aligned with the United Nations Sustainable Development Goals.

To mark his 80th birthday in 2023, the publishing house Steidl released the book The Michael Otto Principle, edited by Michael Otto. The publication presents essays exploring his approach to entrepreneurship and social responsibility, addressing topics such as digital transformation, globalization, sustainability and cultural development.

Over the course of his career, Michael Otto has received numerous honours, including the Grand Cross of the Order of Merit of the Federal Republic of Germany with Star and honorary citizenship of Hamburg, in recognition of his contributions as an entrepreneur, environmental advocate and philanthropist.

Michael Otto lives in Hamburg with his wife Christl Otto. He is the father of two children and grandfather to several grandchildren. Known for his modest and thoughtful manner, he remains widely respected for both his business leadership and his commitment to society.

About Otto Group

With a strong heritage as a family business and firmly rooted values, the Otto Group is looking to the future with confidence. Over the past 75 years, the company has developed from a catalog-based mail order company into an international digital retail and services group with 36,300 employees and a large number of key companies, brands and holdings in over thirty countries, primarily in Germany, the rest of Europe and North America. Its business activities extend to the Platforms, Brand Concepts, Retailers, Services and Financial Services segments. In the 2024/25 financial year (ending February 28), the Otto Group generated revenues of 15 billion euros. As the largest online retailer of European origin, it is shaping the digital retail and digital services of the future by drawing on its strength, market significance and values. Driven by a passionate and entrepreneurial performance culture, the Group is exploiting its vast market expertise and technological competence to inspire its many millions of customers with high-quality products, unique choice of goods and an array of services. The Otto Group is proof that a value-oriented approach and business success can go hand in hand. Environmental protection has been another corporate objective since 1986. It takes its ecological, social and digital responsibility seriously – and will continue to do so.

Media Contacts:

Thomas Voigt
+49 40 6461 4010
thomas.voigt@ottogroup.com

Annette Siragusano
+49 40 6461 3982
annette.siragusano@ottogroup.com

SOURCE: Otto Group