Michael Otto (businessman)

Michael Otto (born 12 April 1943), is the chairman of the supervisory board of Germany's Otto Group, one of world's largest mail order company, with €15.6 billion in 2021. Early life He earned doctorates from the University of Hamburg and the University of Munich. Career Otto Group was founded by his father, the late Werner Otto, as a mail-order business in Hamburg in 1949. They were the former owners of Spiegel, Inc. (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, Inc. emerged from bankruptcy, was renamed Eddie Bauer Holdings, and is now owned primarily by Commerzbank. The Otto Group no longer has any stake in the company.