Delegate Technical Execution to Specialists

“THE JARED BLUESTEIN FILE A special place in German economic history is already secured for him: the first professional poker player to sit on the supervisory board of a traditional German company. In the hierarchy of Berggruen Holdings, Jared Bluestein occupies a key position. He is listed as the chief operation officer on the homepage, responsible for "buyout activities, investment sourcing, portfolio oversight and firm administration". Literally, buy-out means "buy-out", which hits the nail on the head: a company is financially leveraged by another by first acquiring individual business parts, thereby gaining control over the entire company later. Bluestein's competencies also include investment acquisition, controlling, administration – in the case of Karstadt, this also includes the position of supervisory board chairman.”

“At the book presentation in Berlin, such questions are not asked, nor is Karstadt a topic. Most seem to know that Berggruen is not at home in the world of corporate management, the restructuring of companies. Or as Berggruen himself once said to the American news channel Bloomberg: "I realized pretty early on that I would probably be a terrible manager."”