Generational Transition in Family Businesses with Theresa and Maximilian Meyer

In a nutshell: A recent survey by the IFO Institute reveals that half of all German family businesses are on the verge of passing the torch to the next generation. Yet for 42%, succession remains entirely unresolved. Particularly striking: while just under half of businesses in the second or third generation are well positioned, only 20% make it beyond the third generation. 

What does this mean for businesses in practice? And how can a successful generational transition be achieved? That's exactly what we discussed with Maximilian and Theresa Meyer – two siblings who have taken over the leadership of their family business Meyer & Meyer in the fourth generation. 

From a childhood in the business to the executive floor 

Maximilian and Theresa Meyer grew up with logistics. Even as children, they sat at the breakfast table with their parents' business partners, experiencing first-hand what it means to run a company. Yet joining the family business was not a foregone conclusion for either of them. 

"My plan was actually to work for a large corporation abroad," says Theresa. But after several years in management consulting, she made a deliberate decision to move into the family firm – initially as Chief Transformation Officer, later as CFO. Max, on the other hand, had always had a sense that he would return one day, but took his time making the final move. 

It quickly became clear to both of them that the transition would not happen overnight. "It's a process you grow into," says Maximilian. "And we had to consciously ask ourselves: what do we keep? What do we change?" 

The business as a third sibling 

The emotional connection to the business plays a major role for both of them. "We always say the company is our third sibling," explains Theresa. This close bond makes leadership particularly meaningful, but also brings challenges – especially when it comes to managing long-standing employees. 

"Many of our colleagues have known us since we were children. Suddenly, we're their bosses. That's not always easy," says Max. The transition from the old to the new generation generated enthusiasm, but also resistance: "Comments like 'Your father never did it that way' were something we had to hear a lot at first." 

To manage this change effectively, the siblings rely on clear communication and a gradual handover. "There was no fixed date on which we suddenly took over responsibility. We were deliberately brought in step by step – and that made a real difference," says Theresa. 

Generational transition in times of crisis 

The two joined the business during a period that was anything but straightforward. The pandemic hit the fashion industry – and with it, their company in fashion logistics – hard. "Suddenly we were facing enormous challenges: customer insolvencies, contracts that had to be renegotiated, uncertainty among the workforce." 

But rather than despair, they saw the crisis as an opportunity. "We learned that phases like these are part and parcel of entrepreneurship. Today we know: challenges will always come – what matters is that we are prepared for them." 

What makes a family business future-proof? 

Looking ahead, Maximilian and Theresa are clear on one thing: their business should be preserved for the fifth generation as well. To achieve this, they rely on innovation, closeness to their customers, and a clear strategy. 

"Our logistics services have evolved over the years – from traditional Solutions to specialized services such as repairs for fashion items," explains Maximilian. "We see ourselves as pioneers in fashion logistics and are constantly developing new Solutions to stay competitive." 

A key success factor: the right blend of tradition and innovation. "We have to keep asking ourselves: what do we preserve? And what needs to change?" says Theresa. 

Tips for a successful generational transition 

To close, the two share some advice for other family businesses facing a generational transition: 

✅ Succession must be a genuine choice – A forced handover doesn't work. The next generation must consciously choose to take on the responsibility. 
✅ External support helps – A neutral mediator or mentor can defuse conflicts and ease the transition. 
✅ Patience and flexibility are essential – The handover should happen gradually, not on a fixed date. 
✅ The business comes first – Not personal interests, but the long-term viability of the company must be the top priority. 

Whether there will be a fifth generation remains to be seen. But one thing is certain: Maximilian and Theresa Meyer have shown that family businesses can successfully navigate change with the right strategy and mindset. 

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