In January, BMG announced that its CEO Hartwig Masuch would be stepping down at the end of this year, to be replaced by current chief financial officer Thomas Coesfeld on 1 January 2024.
Those plans have now been brought forward, with Coesfeld now taking the reins on 1 July. BMG stressed that Masuch is leaving BMG and its parent company Bertelsmann “at his own request and on the best of mutual terms”.
Alongside his role as BMG CEO, Coesfeld will also join Bertelsmann’s Group Management Committee. He has already been making some changes to BMG’s executive team, bringing in Mathis Wolter from sister company RTL Group as chief financial officer.
Chief technology officer Sebastian Hentzschel has also been promoted to chief operating officer, while Alberto Chullen Llamas from Bertelsmann Education Group has joined as EVP investments, with a specific brief on catalogue acquisitions.
“After 45 acquisitions in 2022 alone, acquisitions remain central to BMG’s growth into 2023 and beyond,” promised Coesfeld.
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