The packaging kit manufacturer said that his two sons Gerald and Ralf will become CEOs of the company.

In a statement, the firm said that Gerald Schubert, 48, is a father of two children with a degree in mechanical engineering. He headed up the Schubert subsidiary IPS (International Packaging Systems) before assuming the role of Schubert sales division manager.

Ralf Schubert, 51, a father of three children, graduated in computer sciences and leads Schubert’s technical office and assembly division.

In a statement the firm added: “This proven management team is completed by Peter Gabriel as commercial director and Peter Schneider as the head of the Materials Management Division. Gerhard Schubert will retain his overall management role and continue to devote himself to the marketing department.”

The firm has more than 900 employees worldwide.