Leadership at Blue Cap AG is changing at short notice: Dr Henning von Kottwitz leaves the management board at the end of 8 October 2026. The previous chair of the supervisory board, Dr Christian Diekmann, moves temporarily to the management board on 9 October and takes over strategy and finance in particular.
A change with a special governance dimension
According to Blue Cap AG’s official announcement, the supervisory board and CEO Dr Henning von Kottwitz have agreed on his departure. The supervisory board is delegating Dr Christian Diekmann to the management board under Section 105(2) of the German Stock Corporation Act. Henning Eschweiler remains COO and additionally takes responsibility for M&A.
Diekmann has known Blue Cap since 2024 as chair of the supervisory board. He also brings operational restructuring and leadership experience from mid-market corporate groups, including as former CEO of Max Automation SE and as CFO of the Zertus Group and comdirect bank AG.
Why the appointment matters for the mid-market and PE market
Confirmed fact: Blue Cap positions itself as an investor in special situations and pursues a buy-transform-sell strategy. The change therefore affects not just a single board function but the management of an investment group with industrially oriented portfolio companies.
Assessment: The direct move from supervisory board chair to operational responsibility creates continuity and the ability to act in the short term. At the same time, it deliberately shifts the boundary between oversight and management. For owners, supervisory boards and investment companies, it will therefore be decisive how long the transitional model lasts, what the permanent board architecture should look like and which capabilities are needed for the next development phase.
Concrete leadership questions for the next phase
From an executive search and leadership advisory perspective, three immediate topics arise: a robust design of the transitional mandate, the future allocation of strategy, finance, M&A and operational portfolio management, and the question of whether there is sufficient internal succession potential or an external market comparison is required.
In special situations in particular, classic administrative experience is not enough. What is needed are executives who can combine capital allocation, restructuring, portfolio development and demanding stakeholder communication. The appointment is therefore a relevant signal for the executive market around investment companies and transformation-driven industrial portfolios.
Further current leadership changes can be found in DACH Executive Moves. More on leadership appointments in portfolio companies: Private Equity Executive Search and Private Equity Advisory.
Source: Blue Cap AG, “Change in the management board of Blue Cap AG”, 6 October 2026.