Steffan Höpfner's story with Playmobil ends here. After 26 years of loyal service, the CEO of the brand with German plastic figurines is putting himself in the closet. On Thursday, July 20, he announced his decision in a letter to staff. Missive supposed to remain internal, until the official announcement of the resignation. But the German monthly Manager Magazin got its hands on it. On July 31, Steffan Höpfner will say goodbye to his position as CEO of Playmobil. Title obtained in 2015, after 19 years of climbing the ranks and following the death of founder Horst Brandstätter. A "difficult" transfer of power, he acknowledges. Because since the disappearance of its historical command, the German liner drifts.
At the cockpit are former managing director Steffan Höpfner and Marianne Albert, former secretary general now head of the powerful advisory committee. In the absence of a cordial understanding between the two, Playmobil quickly lost speed against its competitors, and in particular against the Danish Lego. Playmobil has not managed to build a large audience of adults, unlike Lego. In addition, Playmobil has only been collaborating with brands such as Citroën, Ferrari or Asterix since 2019, while Lego did not wait to link up with Disney, Marvel or Star Wars.
Results at half-mast
In addition, the group has had to face successive crises that have greatly weakened the ship. The war in Ukraine, with the soaring prices of oil and electricity, has strongly impacted Playmobil's production. Because the brand has never relocated its production, apparently to protect its industrial secrets. Almost all of his figurines are produced in his factories in Germany and Malta, and only 5% of them are made in China.
Consequences: results at half-mast, with a fall in turnover of 4.3% in 2022, to reach 691 million euros. That of Lego peaks at 8.6 billion. Irrefutable proof of the delay of the German toy manufacturer. Across the Rhine, however, the figurines still have the coast. Just like in France, Playmobil's second market. On the amusement park side, morale is also at an all-time low. The company's annual report notes "considerable revenue losses" in this sector where turnover has collapsed by 54%.
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Tyrannical management?
Other reasons may have pushed Steffan Höpfner towards the exit. In addition to disappointing results and management conflicts, there are also internal disputes. The works council has taken the CEO's managerial methods by surprise. In a seven-page document also revealed by Manager Magazin, the unions deplore horrific working conditions, accusing management of reigning "fear and humiliation". On the menu: abuse of mothers and seniors. "They would be forced to "take their jobs, even if we know that this is not possible for family reasons". The aim would be to 'bully' mothers until they resign," the German monthly wrote, citing the unions' letter. For the works council, Horst Brandstätter's successors are "trampling on his legacy".
Steffan Höpfner himself acknowledges in his letter, his departure is a "sign that nothing is eternal. Change is good for all parties because it is inspiring." If the expected change doesn't happen on its own, Playmobil's last hope will be McKinsey. In September, the consulting firm called to the rescue by the management, will deliver its report and should give a course to the drifting ship. Contacted, Playmobil remains coi.