Fernand Ernster, who has run the bookshop chain that bears his family since 1989, has announced that he is stepping down as the CEO of the company and handing the reins to one of his sons, 30-year-old Paul Ernster.
“I’ll be 65 next March. It seems like a good time to take a step back,” said Fernand, who took over the business from his own father. Paul will be the fifth generation of Ernsters to head the family business.
“The idea is to retire within a year,” Fernand explains, adding that he will continue to serve as president of the Luxembourg Chamber of Commerce until the end of his mandate. He was unanimously elected to a new…
