Birke and Schomborg (pictured) will both take over as managing directors and main shareholders, having been at the company in senior positions since 2009.

They will replace Michael Albers, Heiner Junker, and Professor Joachim Scholz-Ligma, who were the managing directors and main shareholders, and who will all remain acrive at the company during the transition to new leadership.

The company said an external sale was also considered, but that ultimately it believed that Produkt + Markt would benefit more from remaining an independent company than from joining a larger group.

Many long-standing members have decided to remain as shareholders, the company said, with Dr Dirk Aderhold increasing his shares, and Christiane Bernsen, Carolin Globisch, Claudia Greischel, Juliane Nafroth, Dr Ludger Rolfes and Tanja Schröder acquiring shares.

Albers said: “We hand over the responsibility for Produkt + Markt to the next generation with great confidence and joy.

“The overwhelmingly positive response from our employees confirms that we have made the right decision.”

Birke and Schomborg added: “Our trust in Produkt + Markt’s future was already strong, but it has been further strengthened by this large group of leadership members committing to the company’s future.

“We look forward to shaping the future together with all leadership members, employees and our clients.”