In the early 1970s, Hans Liebherr moved his residence from Germany to Switzerland in order to avoid the hefty German inheritance tax. Then Hans Liebherr transferred stock ownership in his enterprise to his children. The company was split in two parts: a German holding company for all business activities in Germany and another holding company based in Switzerland for all the other subsidiaries. Hans, Jr., Markus, and Hubert Liebherr received equal shares in the German holding company. Willi and Isolde Liebherr were co-owners of the Swiss holding company. However, despite the transfer of ownership, Hans Liebherr remained in control of his enterprise through a power of attorney with each of his children. In 1983, the company's headquarters were moved to Switzerland after the establishment of the new Swiss-based management holding company Liebherr-International AG.
After Hans Liebherr's daughter and four sons had finished their education in their late 20s and early 30s, they all started working as full-time executives at their father's business. The company founder's oldest son, Hans, Jr., studied engineering and economics. Willi Liebherr became a mechanical engineer, while his younger brother Markus studied engineering with an agricultural focus. Hubert, the youngest of the Liebherr brothers, became a construction engineer, and their sister Isolde studied business administration. Hubert Liebherr managed an excavator plant in Algeria, Isolde was responsible for the hotels, and the other Liebherr siblings had management positions in production or marketing. However, around 1990, Hubert Liebherr gave his share in the family business back to his father.
Second Liebherr Generation Takes Over in 1990
When company founder Hans Liebherr died in 1993, at age 78, his industrial enterprise generated roughly $2.5 billion in sales annually. Now it was time for the second Liebherr generation to take over management of the family enterprise. Hans, Jr. took over responsibility for the crane and concrete mixing business, Willi for earth moving equipment, and Isolde for the refrigerator production and hotels. Markus Liebherr, however, had changed his life plans and gave most of his shares in the company back to his brothers and sister. Hans, Jr., Willi, and Isolde met every other week to discuss the basic decisions concerning investment, product development, and finances.
He's skint!!! He gave it all away. :'( :smt073
Daniel Passarella