Change in Capital and Management Structure: From Stumm Back to Marquard & Bahls
An unpopular name is ditched and the group Mabanaft/Oiltanking returns to its roots: 40 years earlier, Theodor Weisser had started his oil business in the Hanseatic city of Hamburg as "Marquard & Bahls.” For ten years now, the business has traded under the name of Stumm GmbH. According to the management, its return to the original name signifies the completion of the group's reorganization.
The reorganization focuses on the clear legal separation of the two main areas of business: oil trading (Mabanaft) and the tank terminal business (Oiltanking), as well as the clear delineation of powers between holding/corporate management and the management of the operational divisions. In future there will no longer be any overlap between managers of the holding and those of the subsidiaries. Each subsidiary's management is now fully responsible for their own business. This reduces Marquard & Bahls dependence on individual staff members, in a restructuring precipitated by Hans Weisser's resignation at the end of 1984.