Albrecht Dietz facts for kids
Albrecht Dietz (born March 11, 1926 – died March 21, 2012) was a German businessman and scientist. He started the very first company in Germany that offered "leasing." Leasing is like renting something for a long time, often with the option to buy it later. He is known as one of the main people who helped create the leasing industry in Germany. He also wrote many books and articles about business, like how companies are managed and how economies change over time.
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Albrecht Dietz's Life Story
Albrecht Dietz was born in Dresden, Germany. His father, Albert Dietz, was a merchant and inventor, and his mother, Lydia Dietz, taught young children. After finishing high school in 1944, he studied economics and law. He first went to the TU Dresden. After Dresden was bombed in 1945, he continued his studies at the University Jena. He earned his business degree there in 1947.
In 1948, he became an assistant to a famous professor, Erich Gutenberg, at the Goethe University in Frankfurt am Main. Albrecht Dietz earned his PhD, which is a very high university degree, in 1949. His PhD paper was about "The Theory of Overhead Costs," which are business expenses that don't change much.
Starting a Career and Building an Industry
Albrecht Dietz began his professional life in 1949 as an auditor. An auditor is someone who checks a company's financial records to make sure they are correct. He worked at a company in Frankfurt am Main. From 1953, he held different jobs in the office machine industry. He was a manager at German Olivetti AG and a sales director at Ankerwerke AG. He also became a managing director at Deutsche Underwood GmbH, a company known for typewriters (Underwood Typewriter Company).
In the late 1950s, he learned about leasing while in the United States. In 1962, he started Maschinen Miete GmbH. This was the first company in Germany to lease movable goods, like machines. He also helped start Deutsche Leasing GmbH. Because of his work, Albrecht Dietz became known as a pioneer and founder of the successful leasing industry in Germany.
In 1971, three early leasing companies – Deutsche Leasing GmbH, Maschinen Miete GmbH, and Mietdienst GmbH – joined together. They formed Deutsche Leasing AG. Albrecht Dietz was the CEO, or chief executive officer, of this new company from 1971 until 1991.
Shaping Leasing Rules
Albrecht Dietz also led the German Association of Leasing Companies. He played a big part in creating the rules for leasing in German tax laws during the early 1970s. These rules are still used today for leasing contracts. For several years, he was also a member of the board of Leaseurope. This is a group that represents leasing companies across Europe.
After 1982, he taught and researched topics like leasing economics and how companies are managed. He also took part in international research meetings at the Max Planck Institute for Research into Economic Systems in Jena. He was an Honorary Professor at the Goethe University of Frankfurt am Main.
Albrecht Dietz was married to Elisabeth Dietz, and they had three children.
Awards and Recognitions
- Cross of the Order of Merit of the Federal Republic of Germany, 1992 (Bundesverdienstkreuz)
