Oetker Collection announces transition of CEO
Oetker Collection‘s longstanding CEO, Mr Frank Marrenbach, has decided to leave the company to take on a new role as Managing Partner of German based Althoff Hotels.
On May 1st 2020, Mr. Marrenbach will pass his responsibility as CEO of Oetker Collection to Dr. Timo Gruenert, who has served as the company’s CFO and Co-Managing Director since 2009. Earlier this year Mr. Marrenbach resigned as General Manager of Brenners Park-Hotel & Spa in Baden-Baden and was succeeded in this role by Henning Matthiesen.
Dr. Heino Schmidt, Chairman of the Supervisory Board of Oetker Collection, commented: “It is with much regret that we have to acknowledge Mr. Marrenbach’s decision to leave Oetker Collection after 23 years, in which he formed the company’s development in a significant way. I must say, however, that I understand that this decision is directly related to his wish of becoming shareholder and CEO at the same time and that he accepted a special entrepreneurial opportunity that was presented to him. On behalf of the Board and the Oetker family I would like to sincerely thank Mr. Marrenbach for his longstanding and successful services. We all wish him the very best in his new endeavours.”
With respect to the incoming CEO, Dr. Schmidt stated: “We can consider ourselves very lucky that we are able to organize a smooth transition of the senior leadership function of the company with the appointment of Dr. Gruenert, who joined the Oetker Group already back in 2005 and who has created much of what Oetker Collection represents today over the past ten years of his tenure in close partnership with Mr. Marrenbach.”
Dr. Gruenert started his career as Assistant to the Managing Partner of Dr. August Oetker KG after receiving his PhD from University of Giessen with a thesis on Mergers & Acquisitions in corporate crisis. Since 2009, Dr. Gruenert and Mr. Marrenbach closely cooperated in creating the Oetker Collection on the basis of the existing hotel portfolio owned by the Oetker Group at that time. By adding a number of prestigious hotels owned by third parties but managed by Oetker Collection, they jointly developed the growth strategy for the company.
Dr. Gruenert commented on his appointment: “I see it as a great privilege and honour to be able to continue the journey that we started with Oetker Collection over ten years ago and to further develop the company’s strengths and its unique culture in my future role as CEO. The company, its masterpiece hotels and especially our dedicated team members, that represent Oetker Collection in five different countries, are very dear to my heart. I firmly believe that our hotels portray something very special in today’s hospitality landscape and I see the company in an excellent position to further develop its portfolio.”