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Bertelsmann Re-Ups Chief Executive Thomas Rabe's Contract, Appoints New CFO

Thomas Rabe

Bertelsmann chairman and CEO Thomas Rabe

Following a decision by the company's supervisory board, Bertelsmann chairman and CEO Thomas Rabe will continue to lead the German media giant for another five years. Prior to his appointment as chairman & Chief Executive Officer on January 1, 2012, Rabe had served as CFO of the company since 2006, after having held the same function at RTL Group (a subsidiary of Bertelsmann) from 2000 through 2005. 

Christoph Mohn, chairman of Bertelsmann's supervisory board, said of the re-appointment: “The Board is delighted about the extension of the contract with Thomas Rabe. Since taking office he has strategically realigned the Group to become faster-growing, more digital and more international. The progress made on this path under Thomas Rabe’s leadership has been enormous, just consider the digital investments of  RTL Group including in companies such as BroadbandTV, StyleHaul and SpotX, the merger resulting in the world's largest trade book publisher Penguin Random House, the re-entry into the music business with the new BMG, and the founding of the Bertelsmann Education Group."

The Bertelsmann supervisory board also made a c-suite appointment today, appointing Bernd Hirsch as the company’s new Chief Financial Officer (CFO). Hirsch is scheduled to begin on April 1, 2016. He will take over responsibility as CFO from Rabe, who had taken on the role in an interim capacity. At the same time, Hirsch will become a member of the Bertelsmann Group Management Committee (GMC).

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