On 6 December 2021, Graf Lambsdorff was unanimously elected chairman at a meeting of the society. Prof. Dr. Björn Frank, University of Kassel, was elected as deputy and Prof. Dr. Marcus Giamattei, Bard College in Berlin, will be the Executive Director. Founded by Nobel Laureate Reinhard Selten and Heinz Sauermann in 1977, the society is a forum for experimental research in Germany and the world's oldest association of experimental economists.