Edel, Parent of German Label earMusic, Announces Changes In Leadership & Legal Structure
German independent record company Edel AG, home to labels including earMusic and Berlin Classics, has announced changes in its leadership and legal structure. The firm this month completed filings that transition it from a public limited company to a European Company, which brings with it a change in name to Edel SE & Co. KGaA.
As part of the changes, Edel CEO Michael Haentjes has stepped down after several decades in the role and will be replaced by his son, Dr Jonas Haentjes. The senior Haentjes will remain as chairman of the board of directors.
"After 33 years of managing Edel AG, taking it from a one-man show to a media group that employs over 1,000 people and wordwide success with international acts like Alice Cooper, Scooter, Deep Purple, Status Quo and Foreigner, it is my very great pleasure to place this company and its dedicated, skilled employees, in the hands of my son Jonas and thus complete the transition to the next generation," said Michael Haentjes.
The company's change of legal form is designed to ensure the continued influence of the family when the next generation takes over.
As a result of the changes, the position as shareholder of the company remains fundamentally unaffected shareholders will participate to the same extent and with the same number of shares in Edel SE & Co. KGaA as they previously held in Edel AG.
"I am delighted that we have taken this step to strengthen the pillars of a sustainable, long-term corporate policy and are well positioned to face the coming years," commented Jonas Haentjes. "On behalf of all my colleagues, I would like to thank my father for his life’s work and the trust he has placed in all of us and in my abilities. It is wonderful that he is not leaving us for good, but that as a non-executive member and chairman of the Board of Directors he will remain with the company to contribute his enormous fund of experience and business relations to the future strategic course."
Edel's brands include publishing units earBooks and Noble Books; production companies Noble Motion and Pandastorm Pictures; and music labels MPS, Berlin Classics and earMusic, whose roster includes Alice Cooper and Status Quo.