Thomas Coesfeld, the present CFO of BMG, will now turn out to be the music firm’s new CEO with impact from July 1, 2023.
He succeeds the founding CEO Hartwig Masuch, who, in line with the corporate, is leaving BMG and Bertelsmann “at his personal request and on one of the best of mutual phrases”.
In accordance with Bertelsmann, “as a consequence of his private plans for the longer term, Hartwig Masuch had requested an earlier departure” from the corporate, however will stay related to Bertelsmann in an advisory capability till 2026.
The CEO changeover was initially scheduled for January 1, 2024.
Upon taking workplace at BMG, Thomas Coesfeld may even turn out to be a member of Bertelsmann’s Group Administration Committee (GMC). The committee advises the Group Govt Board.
As he prepares to take workplace as Chief Govt Officer (CEO), Thomas Coesfeld has introduced additional senior appointments for BMG.
The brand new Chief Monetary Officer (CFO) – his successor on this workplace – will probably be Mathis Wolter, who joins BMG from RTL Group. Sebastian Hentzschel, at present Chief Know-how Officer at BMG, will assume duty for the working areas Rights & Royalties, Provide Chain, and Know-how & Knowledge as Chief Working Officer (COO), and can proceed to advance BMG’s world expertise platform.
Dominique Casimir, who has been with BMG since 2008, will stay liable for Repertoire and Advertising for the world outdoors the U.S., in addition to International Synch and Company Duty, as Chief Content material Officer (CCO).
Nikola Holle-Spiegel, who joined BMG in 2018, stays the corporate’s Chief Human Sources Officer (CHRO).
Mathis Wolter, Sebastian Hentzschel, Dominique Casimir and Nikola Holle-Spiegel will be part of Thomas Coesfeld on the BMG Govt Board. A further new appointment to BMG’s high administration crew is Alberto Chullen Llamas, who joins BMG from Bertelsmann Schooling Group as Govt Vice President Investments to drive ahead the Increase technique and assist future catalog acquisitions.
“I’m leaving on a excessive be aware – and within the agency conviction that with Thomas Coesfeld and his administration crew, a brand new technology will efficiently lead the music firm into a brand new period.”
Hartwig Masuch, BMG
Hartwig Masuch, outgoing CEO of BMG, defined: “BMG has set gross sales data in latest months, signed excellent artists, acquired iconic music rights catalogs and developed new traces of enterprise.
“The values of transparency, service, and equity at the moment are an inseparable a part of what has turn out to be the corporate’s DNA, a lot revered by your entire music trade.
He added: “So I’m leaving on a excessive be aware – and within the agency conviction that with Thomas Coesfeld and his administration crew, a brand new technology will efficiently lead the music firm into a brand new period.
“The part of transition and handover between us has gone so easily that I’ve determined to step down just a few months sooner than initially deliberate. On a private stage, I look again with gratitude and pleasure on greater than 4 many years within the music trade, 32 years at Bertelsmann and 14 years on the helm of BMG. It has been a incredible time.”
“I want to thank Hartwig Masuch for handing over an organization which is each extremely artistic and profitable. Hartwig’s clear give attention to constructing an organization which works for artists and songwriters has resulted in a globally related music firm which has redefined what a music firm could be within the streaming age.”
Commenting on the appointments, Thomas Coesfeld stated: “We’ve a powerful crew on the helm of BMG, bringing collectively a variety of abilities and expertise. Collectively we are going to drive the corporate’s progress, and I very a lot stay up for working with all of them.
“I want to thank Hartwig Masuch for handing over an organization which is each extremely artistic and profitable. Hartwig’s clear give attention to constructing an organization which works for artists and songwriters has resulted in a globally related music firm which has redefined what a music firm could be within the streaming age.
He added: “Collectively, with the help of Bertelsmann’s Increase technique, we’ve invested greater than €500 million in buying music rights catalogs together with these of such megastars as Tina Turner, Mötley Crüe, Easy Minds, Jean-Michel Jarre, and ZZ High. I’m excited to construct on this unbelievable basis. As well as, I very a lot stay up for working alongside Bertelsmann’s high administration on the GMC and want to thank Thomas Rabe for appointing me to this committee.”
“I want to thank Hartwig Masuch and Thomas Coesfeld for the graceful handover on the helm of BMG. Hartwig has written many chapters in BMG’s success story, which Thomas will now proceed.”
Thomas Rabe, Bertelsmann
Bertelsmann CEO Thomas Rabe stated: “I want to thank Hartwig Masuch and Thomas Coesfeld for the graceful handover on the helm of BMG. Hartwig has written many chapters in BMG’s success story, which Thomas will now proceed
“Thomas Coesfeld takes the helm of an organization whose revenues elevated by greater than 30 % within the record-setting yr 2022. As CFO, he obtained to know BMG effectively, drove ahead its digital orientation, and invested appreciable funds within the acquisition of music rights.
“I’m sure that BMG will proceed to develop underneath Thomas Coesfeld’s management, and I want him and his new administration crew one of the best of luck of their efforts. I additionally stay up for working with Thomas on the Bertelsmann Group Administration Committee.”
Commenting additional on Masuch’s departure, Rabe, stated: “An amazing music entrepreneur – and a particularly valued and revered colleague – is leaving the corporate. Since 2008, Hartwig Masuch has constructed a brand new sort of music firm underneath the Bertelsmann umbrella, one which facilities on/prioritizes the pursuits of artists and songwriters.
“BMG now works with among the world’s most distinguished creatives. Hartwig Masuch has repeatedly expanded BMG’s enterprise, culminating in report gross sales final yr.
“We at BMG and Bertelsmann are deeply grateful to Hartwig Masuch for his lifetime achievement, in addition to for the good artistic and entrepreneurial impetus he has given to the work of the Bertelsmann Group Administration Committee. In latest weeks and months, Hartwig Masuch has set the course for a easy transition to his successor Thomas Coesfeld. We’re complying together with his want to convey ahead the date of his retirement after three many years at Bertelsmann. We’re happy that Hartwig Masuch will proceed to advise our firm till 2026. Personally and on behalf of the Govt Board, I want him all the perfect for the longer term.”
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