Otto Happel

Early Life

Otto Happel was born on February 9, 1948, in Bochum, Germany. He earned a PhD in engineering from RWTH Aachen University.

Rise to Success

In 1974, Happel became the CEO of GEA Group, a small family business founded by his father. Over the next 25 years, he transformed GEA into a global system supplier. He made over 70 acquisitions, resulting in GEA having over 200 subsidiaries in 60 countries. In 1989, he took the company public at the Frankfurt stock exchange.

Key Business Strategies

Happel increased GEA's revenues to over €2.6 billion by 1999. In 1999, he merged his controlling stake with Germany's MG Technologies. He then sold his dominant stake to institutional investors in 2006.

Philanthropy

Otto Happel's foundation supports projects in developing countries. The Happel Foundation sponsors social and economic development to alleviate poverty by promoting sustainable economic and social improvement in the life circumstances of its beneficiaries. The Happel Foundation follows the principle of “help for self-help.”