TRACTO is and always will be a family business, something that founder Paul Schmidt set great store by. But what happens to a family business when the owner dies suddenly and has no direct heirs? This was the question that preoccupied Wolfgang Schmidt († October 2020) before his death and is certainly of interest to you, dear readers. As you can see from the headline, the future of TRACTO is secure, as Wolfgang Schmidt stipulated in his will that a foundation should be his sole heir. Our company owner wanted to set up and establish this foundation during his lifetime, but unfortunately passed away before it could be established. Now, two years after Wolfgang's death, the Paul and Wolfgang Schmidt Foundation has been established and recognised by the District President in Arnsberg. But what exactly does it mean that TRACTO is now part of a foundation?

Wolfgang Schmidt

Paul Schmidt
Back in 1989, Paul Schmidt told his son Wolfgang that he was putting TRACTO in his hands to expand the company internationally and make it big. This international growth and entrepreneurial development was very important to Wolfgang as the managing owner. In order to drive the development of his group of companies and in particular to secure the future of TRACTO in the long term, the establishment of a foundation was the logical consequence for him. Wolfgang Schmidt had no children of his own to whom he could entrust the fate of TRACTO. It was therefore important to him to make long-term provisions and to regulate his succession.

He has achieved this by setting up the Paul and Wolfgang Schmidt Foundation.

TRACTO will continue to be managed by the current directors Timotheus Hofmeister (CEO and entrepreneurial successor to Wolfgang Schmidt) and Meinolf Rameil (CTO). They will ensure that the company continues to grow and are responsible for establishing TRACTO as an innovation and technology leader in the long term.

With the foundation, the values of the family business will be preserved and passed on in the future. It is also responsible for social projects in the region, supporting charities and people in need. The involvement of the foundation, the family of Paul and Wolfgang Schmidt and Timotheus Hofmeister ensures that all decisions that keep TRACTO on a stable course are made in the spirit of the two deceased owners. It was important to Wolfgang Schmidt that the operative business of TRACTO remains in the responsible hands of the two managing directors in order to ensure the long-term orientation of the company.
Paul and Wolfgang
Establishment and recognition:
December 2022

Dr. Stephan Göckeler
Peter Kaufmann
Jennifer Schmidt

Board of Trustees:
Dr. Hanni Koch
Christopher Mennekes
Raimund Schmidt
Karin Schulte-Schmidt
Frederik Weber

TRACTO Executive Board:
Timotheus Hofmeister (CEO | managing director)
Meinolf Rameil (CTO)


These succession arrangements ensure that TRACTO will be able to position itself as an innovation and technology leader on the international market in the long term, thus securing the company's future.
Back to the overview