Frank Marrenbach, longstanding chief executive of the Oetker Collection, has confirmed he will leave the company to take on a new role as managing partner of Germany-based Althoff Hotels.
He will pass his responsibility as chief executive to Timo Gruenert, who has served as the chief financial officer and co-managing director since 2009.
Marrenbach is expected to leave in May.
Earlier this year Marrenbach resigned as general manager of Brenners Park-Hotel & Spa in Baden-Baden and was succeeded in this role by Henning Matthiesen.
Heino Schmidt, chairman of the supervisory board of Oetker Collection, commented: “It is with much regret that we have to acknowledge 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 chief executive 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 Marrenbach for his longstanding and successful services.
“We all wish him the very best in his new endeavours.”
Gruenert started his career as assistant to the managing partner of August Oetker after receiving his PhD from University of Giessen.
Since 2009, Gruenert and 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.
Schmidt stated: “We can consider ourselves very lucky that we are able to organise a smooth transition of the senior leadership function of the company with the appointment of 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 Marrenbach.”