Thanks to JLMatterer and Playmobil in the News, this comes from Leadersnet Deutschland (translation by Google);
"Playmobil is in crisis
NEWS, TRADE, INDUSTRY
| editorial staff | November 27, 2023
The toy manufacturer has been in trouble since a former secretary of the late owner took over the management role.
Playmobil has been in a deep crisis since Marianne Albert, former secretary of the late owner Horst Brandstätter, took over the reins. Sales and profits collapse, 17 percent of the workforce has to leave. Before its 50th anniversary, the once successful company is in the shadow of the question of how this crash came about.
Brandstätter, who expanded the company into a global corporation thanks to the success of the Playmobil figures, left a complex will that reorganized the balance of power. Marianne Albert, once his secretary, became a loyal helper and gained more and more influence after his death.
Marianne Albert has led the company for the last eight years, characterized by opaque decisions and a questionable management style, as manager magazin reports. The once highly profitable company's profits plummeted and sales fell, while its main competitor Lego grew. A lack of modernization, a lack of management methods and an unsuccessful search for strategic solutions by external consultants contributed to the misery. Even big plans, like producing Netflix series, were never implemented.
Realignment with massive cuts
The current leadership announced massive cuts, including the loss of 700 jobs by 2025. Former CEO Steffen Höpfner resigned, criticizing the slow transformation and emphasizing the need for change. Marianne Albert, on the other hand, is relying on her CFO René Feser to realign the group.
A shadow hangs over the question of how the former formula for success, which was based on the wishes of the children, was lost. The introduction of modern management methods and the recruitment of a top manager from Disney were intended to turn things around, but so far these efforts have been unsuccessful. The move away from tried-and-tested products towards new, less successful items resulted in a massive loss of capital.
Inhumane and condescending form of leadership
The situation is exacerbated by the tension between Marianne Albert and the employees. The allegations of “inhumane behavior” and a “condescending” attitude on the part of management cast a shadow on the corporate culture. A former advisory board member complains about the lack of modern management approaches and a lack of trust in external experts.
The question remains whether the upcoming anniversary celebration with a Playmobil stamp can bring the brand back into the spotlight. At a time when the best minds are leaving the company, the challenges are not only economic, but also in terms of restoring trust and innovative strength. The outcome remains uncertain and the future of Playmobil is facing a decisive turning point."
