Leadership, bold decisions, and building a legacy in challenging times: A conversation with Stephan Kemen, CEO of Mäurer & Wirtz
In a second session of the Entrepreneur Conversations series, Stephan Kemen, CEO of Mäurer & Wirtz House of Perfumes, Germany’s largest fragrance manufacturer and owner of iconic brands such as 4711, spoke with ESCP participants and alumni.
Drawing on his journey from professional footballer to beauty executive, Kemen shared insights on leadership, brand building, and the importance of courage in steering a legacy company towards growth. Below are some the key takeaways from the event, the entirety of which can be streamed below on Spotify or watched on YouTube.
Leading with clarity and courage
Kemen’s tenure as CEO began under extraordinary circumstances: his first week coincided with the outbreak of COVID-19. While competitors reduced marketing budgets, he decided to maintain investment and launch new products. The bold move allowed Mäurer & Wirtz to gain market share and defined his leadership style. “If you would like to have outstanding success, you have to do outstanding things, not just so-so things.”He summarised his leadership approach in five rules: listen to people, show respect, be bold, love what you do, and make decisions. For Kemen, the ability to act - even at the risk of mistakes - is essential. “It’s better to take a bad decision than no decision,” he shared.
Building a sustainable and inclusive culture
Culture transformation, Kemen noted, is a long-term process. “I started five years ago and I would say we need another five years.” Over these five years, he has introduced global strategy days, encouraged project ownership, and fostered openness between teams. His focus is on creating an atmosphere of trust rather than fear.He described himself as a bridge between generations: rooted in traditional values while fluent in the digital world. This dual perspective helps him connect with employees across age groups and prepare the company for the future.
Innovating in a traditional industry
Fragrance is a category defined more by heritage and emotion than by constant product innovation. For Kemen, success still begins with the product. “Product is king. If you fail with your products, you can have the best content…it won’t fly.”At Mäurer & Wirtz, this means balancing a diverse portfolio: from accessible brands to niche and prestige lines, alongside licensing agreements such as Escada. While experiments in sustainable perfumes, like the “Hey Pure” brand, showed mixed results, he emphasised the need for continuous exploration and adaptation.
Responsibility beyond profit
Beyond financial performance, Kemen spoke about the responsibility to foster creativity, offer meaningful work, and build a company people are proud to join. He also reflected on the importance of entrepreneurship as a mindset that extends beyond business, shaping society and personal life. His view of legacy is not tied to numbers alone. “I would say it’s a mindset. Being bold, trusting your qualities, opening totally new paths - and the atmosphere.”Ambition and long-term growth
Looking ahead, Kemen outlined Mäurer & Wirtz’ ambition to double its turnover from €240 million and join the ranks of the top 10 global fragrance players by 2030. He sees acquisitions and international expansion as critical levers for achieving scale.When discussing recruitment, he stressed the importance of passion over CVs. “I don’t have an agenda. I just ask ‘What is your favourite brand and why?’ to sense the fire in their eyes.”
Leadership rooted in boldness
Stephan Kemen’s conversation at ESCP Berlin highlighted a leadership philosophy built on courage, respect, and decisive action. His reflections offered students and alumni a clear message: in business and beyond, progress demands the willingness to take risks, inspire others, and remain committed to long-term growth.
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