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Erich Sixt: "This business is my life"

2021-06-19T11:46:38.680Z

After more than half a century, Erich Sixt is stepping down as head of the car rental company - and will in future control his sons on the supervisory board. At the general meeting, the patriarch was combative.



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Erich Sixt (in 2016): Last general meeting as Sixt boss

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Frank Hoermann / SVEN SIMON / imago images / Sven Simon

Erich Sixt showed himself combative at his farewell performance as head of the car rental company of the same name.

Now is the right time to switch on the turbo, Sixt said at the annual general meeting on Wednesday.

The competitors are weakened.

Sixt announced investments in products, processes, marketing and people.

Above all, the car rental company wants to grow organically.

Sixt rejected acquisitions: “Besides, Darwin's selection took place.

There is simply hardly anyone left to buy. "

Sixt did not dare to make a forecast for the current year because the extent and duration of the pandemic-related restrictions cannot yet be estimated.

However, the business development of the past few weeks gives hope that the company will be able to return to the growth mode of the time before Corona after the crisis.

Selling the car rental company is no longer an issue for the company patriarch: "This business is my life," said Sixt, who is celebrating his 77th birthday in a week.

Erich Sixt recently told SPIEGEL in an interview that he currently feels as if he could continue for as long as 91-year-old US investor Warren Buffett.

At the general meeting, he made the family's ties to the company clear.

He is not a company dealer: “And I am pleased that it is the case with my sons that they enjoy seeing the company grow.

That is more important than if they pocket money and sell now. "

The family holds 58.3 percent of the common stock.

Last year there was speculation that VW would be interested in joining Sixt.

After half a century at the helm, Erich Sixt changes to the supervisory board and replaces TUI boss Fritz Joussen.

Sixt's sons Konstantin and Alexander then share the chairmanship.

Alexander Sixt said the company was his parents' life's work.

"Believe me, our father is definitely our strongest critic."

Daniela Bergdolt from the German Association for the Protection of Securities, said the direct change from chairing the board to the supervisory board actually made her hair stand on end.

But in view of his life's work, she gives Erich Sixt a leap of faith and approves his election to the supervisory body.

fdi / Reuters / dpa

Source: spiegel

All business articles on 2021-06-19

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