Leadership Changes at Red Bull

A board of directors will now run Red Bull's business as founder’s son, Mark Mateschitz, becomes a shareholder. The Board consists of Franz Watzlawick (CEO Beverage Business), Alexander Kirchmayr (CFO) and Oliver Mintzlaff (CEO Corporate Projects and Investments). 

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Succession settled (Photo: Monticellllo/stock.adobe.com)
Succession settled (Photo: Monticellllo/stock.adobe.com)

There has long been speculation as to who will take over the business after the passing of Red Bull magnate Dietrich Mateschitz. His son, Mark, definitely will not, according to the Austrian daily Standard. But the Thai industrialist family Yoovidhya, which holds 51% of the shares in the billion-dollar group, is also said to have stood back from the situation.

On Friday, 's Mark Mateschitz announced the succession plan in a letter to the group's employees, according to the Standard. Original quote: "As proposed and desired by my father and me and supported by our Thai partners, a Board of Directors will manage the business of Red Bull. It consists of Franz Watzlawick (CEO Beverage Business), Alexander Kirchmayr (CFO) and Oliver Mintzlaff (CEO Corporate Projects and Investments)."

According to the Standard, Mark Mateschitz is resigning from his job as Head of Organics, behind which is the organic soft drinks division. The 30-year old is said to have announced that he does not want to be an employee and shareholder at the same time. He is therefore concentrating on the role of shareholder. He does not want to answer any further questions on the subject.

Oliver Mintzlaff: from Leipzig to Fuschl

Oliver Mintzlaff, who has been managing director at Red Bull's German Bundesliga soccer club RB Leipzig since 2014, has made a surprising move from Leipzig to Fuschl, the drink giant's headquarters. According to sports channel Sky, he is to be responsible for the company's sports activities with investments in soccer, ice hockey, Formula 1 and sailing, among others, as well as the TV channel Servus-TV. In addition, the 47-year-old is to become the new Chairman of the Supervisory Board of RB Leipzig. On the one hand, this will strengthen Mintzlaff's position in Leipzig within the Group. On the other hand, the Bonn native will remain in a powerful position within the club, according to reports.

Franz Watzlawick for beverages

Last but not least, Franz Watzlawick will now become CEO Beverage Business and thus decisively responsible for the success of the group's beverage division. Watzlawick has been global head of sales since 2018 and is a former Red Bull Germany boss. Alexander Kirchmayr, who is now Red Bull's chief financial officer, joined the beverage empire as an authorized signatory at the beginning of the year.

Roland Concin, Walter Bachinger and Volker Viechtbauer are to leave their previous positions, according to Standard. However, they are to remain with the company as consultants for Red Bull to support the Board of Directors, says Mark Mateschitz. Concin, incidentally, is a former manager of Austrian juice specialist Rauch, which Red Bull uses to fill its cans. It has also been reported that Bachinger and Viechtbauer, as long-time companions of Dietrich Mateschitz, are also to take over the management of Distribution & Marketing GmbHwhich holds 49% of the shares in Red Bull and became the property of his son when Dietrich Mateschitz died. (pip)




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