Bertelsmann president of corporate development and new businesses Thomas Hesse has stepped down. Hesse is credited with helping build Bertelsmann's new BMG publishing assets with BMG CEO Hartwig Masuch. The German media conglomerate issued a statement confirming that its supervisory board decided that Hesse would be released from his role at the company on Dec. 31. The company said current chairman/CEO Thomas Rabe would handle Hesse's responsibilities, though Hesse will continue to serve the board in an advisory role. Hesse joined the Bertelsmann executive board in February 2012.

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