Michael Otto

Michael Otto (born 12 April 1943, in Chełmno (Kulm) in Nazi-occupied Poland), is the head of German Otto Group, the world's largest mail order company, with US$24 billion in sales in fiscal year 2003. Thanks to a 30% rise in Internet sales last year, Otto also maintains its position as the Web's second-biggest retailer, behind Amazon.com. 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 renamed Eddie Bauer Holdings and is now owned primarily by Commerzbank. The Otto Group no longer has any stake in the company. Otto and his family own extensive real estate in Canada...