The German entrepreneur Udo J. Vetter has taken over the presidency of "European Family Businesses (EFB);" the European umbrella organisation for family businesses. The official pass over happened during the 6th EFB Summit in Madrid. Mr Vetter has taken over from the Spaniard Alfonso Libano whose successful presidency ended according to the statutes. Udo J. Vetter, who is also vice-president of the German business association DIE FAMILIENUNTERERNEHMER, was unanimously elected to the role for the next three years.