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After studying Business Administration and Political Sciences at the Universities of Hamburg, Berlin, and Cologne from 1962 – 1966, and Marketing at the Harvard Business School in 1966, Dr Oetker earned his doctorate in Business Administration from the University of Cologne in 1967.

Dr Oetker is also shareholder and Vice Chairman of KWS Saat SE (plant breeding) and chairman of Cognos AG (education).

He is Chairman of the German Council for Foreign Relations e.V. (DGAP), Honorary Member of the Presidential Board of the Federation of German Industries e.V. (BDI), and Member of the Presidential Board of the Confederation of German Employers' Associations (BDA).