FRANKFURT Nov 19 The founder and chief
executive of Fielmann AG will transfer almost a
quarter of shares in the German optician and glasses retailer to
a family foundation as he prepares to cede control to his
"Guenther Fielmann... has today announced that in the course
of implementing his plans for the company to pass down through
the generations he will transfer 24.52 percent of the shares in
Fielmann AG from his shareholding to the Fielmann Family
Foundation," Fielmann AG said late on Monday.
Fielmann AG, which sold 6.7 million pairs of glasses last
year, went public in 1994 but the family still owns 71.3 percent
of shares in the company. Guenther Fielmann has said that his
son Marc would gradually take on more responsibility in the
company to secure a line of succession.
Fielmann also plans to set up a family holding company that
will be majority-owned by the foundation to "future-proof"
Fielmann AG's shareholder structure, the company said.
(Reporting by Maria Sheahan; Editing by David Cowell)