A FAMILY BUSINESS – TWO GENERATIONS!

A warm welcome to Daria Büchel!

Question:

Ms. Büchel, joining your father’s company after your studies was not a matter of course for you, how did the current decision come about?

Daria Büchel:

For me, it really wasn’t a matter of course, even though my father had wanted me to do it for some time. I wanted to gain my own experience and try things out. Among other things, I studied abroad and worked at Google for seven years after university – and initially didn’t want to join the company at all. But after those seven years, the time came for something new – I wanted to take on more responsibility and really make a difference. Joining the family business can be an incredible opportunity, which I was very grateful for. At the same time, my father’s age meant that it was time for me to make a decision anyway.

Question:

And what helped you to make this decision?

Daria Büchel:

My father and I sat down together, I clarified my wishes in a personal coaching session, tied my entry into the company to a few conditions and discussed these with my father with the support of a mediator.

An important point for me was to be able to try out working in the company and not to make a decision now for the rest of my life. Especially in a family business, as a potential successor you have the feeling that it has to work now and forever – otherwise you’ve failed. That puts a lot of pressure on the decision. The motto “forever and ever” is no longer appropriate. Today, nobody makes a decision for their entire life – neither at work nor in their private life. Becoming a little more open to other models at this point would certainly lead some of the next generation to decide to join the company sooner. This “lifelong” attitude certainly prevents many from doing so.

Something can always happen, life situations change – it helped me to think about and verbalize this from the start. That’s what we do now: We regularly check how things are going and how things are progressing. I’m really enjoying it at the moment and I’m looking forward to getting even deeper into it.

Question:

Mr. Büchel, when you joined the company after the death of your father Karl Büchel in 1976, there was no question at all about your role or your commitment. You had to act comprehensively in all areas. It’s different with your daughter Daria: what role does she play in the company?

Erhard Büchel:

For the time being, we have agreed on the areas of strategy, sustainability and digitalization. And, of course, my daughter’s commitment is significant in light of her many years of experience at Google in sales via the new media, i.e. the Internet.

Question:

And a supplementary question: if the next generation is to manage the company in the medium and long term, do you think this needs to be communicated to employees from the outset?

Erhard Büchel:

Whether my daughter is a shareholder or not doesn’t matter for the time being. She is a member of the holding company, which takes some of the pressure off me and I’m looking forward to her fresh, new ideas – we’re pretty outdated in places.

Question:

Ms. Büchel, what specific tasks will you be taking on?

Daria Büchel:

Looking after and building up my own areas was important to me right from the start. Of course, I try to learn as much as possible from my father – he has an incredible wealth of experience and knowledge. The bicycle industry is also new to me. But I didn’t do something else successfully for so many years for nothing, so I want to contribute my expertise. What that means in detail is currently being worked out. I will be taking on a number of tasks in sales and building up completely new areas with the topics of sustainability and digitalization. I am currently working my way through all departments and defining various objectives and measures with a view to the potential for digitalization. There are definitely some processes that can be simplified through automation, for example, and artificial intelligence still has a lot of exciting potential to make our work easier.

When it comes to sustainability, I am also starting with fundamental analyses of the status quo and a lot of further training. Together with our team, I want to develop a strategy with clear areas of action that will actively move us towards Net Zero. These are all big tasks – but many small steps and the support of the team will make it easier to tackle them.

Question:

It is helpful if the next generation not only has the necessary specialist knowledge thanks to their studies, but has already proven themselves in a company for several years. What experience have you gained so far?

Daria Büchel:

At Google, I worked in Sales and Marketing, most recently as Industry Manager. As the main strategic contact, I looked after large multinational clients from the consumer goods industry and advised them on their activities with Google, also beyond online marketing. From this time, I learned how digital companies work. And medium-sized or manufacturing companies can also learn from this. It’s about the way we work – transparency, clear objectives and communication within the team.

Tech companies work with rapid prototyping, among other things – they can quickly test how things are going and then react immediately. To my amazement, I have found that this is already working in our company. The team moves quickly. Instead of planning everything through first, feedback is obtained quickly and this gives us a big advantage over the competition. It reminds me of the way tech companies work.

Erhard Büchel:

We have short decision-making processes; before the other companies have discussed the order, we have already delivered it.

Daria Büchel:

… certainly some work could be done on the structures to gain efficiencies …

Erhard Büchel:

Structures make you slow.

Daria Büchel:

Not always.

Erhard Büchel:

Not always, it’s a bit chaotic for us at times, but it’s quite clear that we need a third of the time that large companies in our sector need to implement the project.

Question:

Time and again, we read that there are often discussions about salary when the next generation joins the company. While young company successors today can often boast top grades from university, attractive internships and interesting professional experience, as is the case with you, the older generation is reluctant to pay an appropriate salary at the beginning until the “offspring” has proven themselves in the company. Mr. Büchel, what is your opinion on this?

Erhard Büchel:

We have come to a good agreement. There are also opportunities for “friendly” design within the company.

Question:

Many owners give their children less important tasks at the beginning or keep talking them into their area of responsibility. How do you handle this, Mr. Büchel?

Erhard Büchel:

Daria is an authorized signatory in the industrial holding company.

Daria Büchel:

I’m not the junior managing director, both sides are looking at the collaboration. Of course, everyone wants it to last forever, but neither of us knows that. We look at whether this professional model works and the area of responsibility is then defined when we say that it fits.

Erhard Büchel:

Well, our Chinese partners are already calling my daughter “small boss”. And anyway, it’s all “peace, joy and pancakes” at the moment.

Daria Büchel:

We are currently working side by side. However, I also have a thick head and if I want to achieve something in an area that I know a lot about, then we will come to an agreement. After all, I have 34 years of experience in dealing with my father.

Question:

Ms. Büchel, you live in Fulda, where the Büchel headquarters are located, and in Berlin. One major challenge is certainly the fact that you see each other every day at work, discuss things and perhaps even have the occasional argument. Is there a danger of taking these “problems” from work into the private sphere?

Daria Büchel:

The company keeps me busy seven days a week, 24 hours a day. I talk about it with friends, I dream about it, sometimes I want to talk about it with my father in the evening. Sometimes that works, but sometimes he says he’d rather talk about his last visit to a restaurant.

Question:

Bringing new momentum, new ideas and the necessary potential for change into the company is certainly expected of you, Ms. Büchel. In your opinion, what is the best way to achieve this?

Daria Büchel:

I have noticed that employees are keen to embrace change. Of course, there are employees at production sites or at head office who have been working with their system for a long time. Here it is important to take the time to explain and not give them the feeling that they are being left alone. I’m really keen to get the ball rolling on how we can work better together internally, including on a cloud basis, and working from home can also make things easier. It can all be implemented, I have already worked with many solutions. At the end of the day, it would be a mistake not to invest enough time and patience. All changes for the future stand or fall on whether the employees go along with them.

Question:

Mr. Büchel, where do you see yourself in ten years’ time?

Erhard Büchel:

I very much hope that the company will continue as a family business. Economic development is fluid, ten years ago I would never have thought that we would be producing parts for agriculture, among other things. You just have to make sure that you take opportunities with you. And I personally will stay involved for as long as I enjoy it.

And this same question addressed to you?

Daria Büchel:

I’ve said goodbye to making ten-year plans, at least in my private life.

My father is right, we should become a modern, digital company and thus increase our attractiveness as an employer, while maintaining openness and flexibility.

Question:

Could your siblings also join the company?

Daria Büchel:

I would be happy if my siblings would work with me, they are cool and very intelligent. But they should really decide for themselves. For me, it was ideal to decide entirely of my own free will. And I would never want to take that away from them. And my father should leave the decision up to them.

Erhard Büchel:

I won’t interfere, they will do it as they see fit.