Background
Otto, Michael was born on April 12, 1943 in Kulm/Bromberg, Germany. Son of Werner Otto.
Otto, Michael was born on April 12, 1943 in Kulm/Bromberg, Germany. Son of Werner Otto.
Bachelor; Bachelor of Science.
Thanks to a 30% rise in Internet sales last year, Otto also maintains its position as the Web"s second-biggest retailer, behind Amazon.com. They were the former owners of Spiegel, Incorporated., (the parent company of Eddie Bauer and former owners of Spiegel catalog), which filed for bankruptcy on 17 March 2003. On 25 May 2005, Spiegel, Incorporated., emerged from bankruptcy renamed Eddie Bauer Holdings and is now owned primarily by Commerzbank.
The Otto Group no longer has any stake in the company.
Otto and his family own extensive real estate in Canada and in the United States, shopping centers in Germany and part of home-furnishings chain Crate & Barrel. Known as a committed environmentalist, his company has long touted environmentally safe products.
In 1993, he created the Michael Otto Foundation (German: Michael Otto Stiftung). This foundation played, and is still playing, an important role in furthering multi-stakeholder dialogue on hot environmental issues.
Otto is currently married with two children.
He is an alumnus of the University of Hamburg and the University of Munich where he obtained his doctorate degrees.
Vice president Hamburg Chamber of Trade. Member presidium Aubenhandelsvereinigungdes Deutschen Einzelhandels e.V., Cologne. Chairman Messe Partner des Fortschritts, Berlin.
Chairman of the Board Governors Gesellschaft fur Politik und Wirtschaft e.V., Hamburg. Board of Governors Otto Foundation, Hamburg, Foundation Promotionof Hamburg Art Collections, Hamburg. Founder, chairman Freundeskreis der Hochschule fur Bildende Kunste, Cultural Circle Federation German Industry, Cologne.
Married Christel von Klier. 2 children.