“Dieter Schwarz chose it because he wanted to keep his whole company in neutral hands,” said Hoffmann-Steudner. “If he dies, the whole complex of the two companies can continue without being centered on him as the main leader.”
The SUT’s eight board members, headed by Klaus Gehrig, control the Schwarz Group’s business decisions. The gGmbH has six voting shareholders who preside over the entity’s charitable activities.
Three years before the company’s restructuring, Schwarz gave power of attorney over his fortune to Hermann-Josef Hoffmann, according to a 1996 notarized document. Hoffmann, 56, represents the Dieter Schwarz TV-Vermoegensverwaltung GmbH -- Schwarz’s asset management vehicle -- on the boards of the gGmbH and the SUT. It is “responsible for the execution of the will and becomes operative after the death of Dieter Schwarz,” according to Bott.