Thomas Coesfeld will proceed to steer BMG as CEO from January 2027 onward, when he assumes the function of Chairman and Chief Govt Officer of BMG’s father or mother firm, Bertelsmann.
A BMG spokesperson confirmed right this moment (November 13) that the manager will assume the twin function when he succeeds Thomas Rabe as head of Bertelsmann after the latter govt’s contract expires on December 31, 2026, after 15 years.
Information about Coesfeld’s appointment as Chairman and CEO of Bertelsmann broke earlier right this moment.
“I’m very a lot wanting ahead to assuming duty for main Bertelsmann,” mentioned Coesfeld in an announcement this morning. “It’s a problem I’ll tackle with the complete help of the Govt Board, prime administration, and all workers,” he added. “I want to thank the Supervisory Board – and specifically its Chairman, Christoph Mohn – for the belief they’ve positioned in me.”
Coesfeld was appointed as CEO of BMG on July 1, 2023, succeeding Hartwig Masuch within the function. He has been a member of the Bertelsmann Govt Board since 2024.
Coesfeld was beforehand Chief Monetary Officer of BMG from April 2021, and earlier than that was Deputy Chief Monetary Officer of BMG from October 2020.
Underneath Coesfeld, BMG generated EUR €963 million (USD $1.04bn) in annual revenues in 2024, up 6.4% YoY or up 8.1% YoY on an natural foundation.
BMG’s adjusted working EBITDA in 2024 reached an all-time excessive of EUR €265 million ($287m), up 37% YoY in comparison with the prior yr’s equal consequence of €194 million ($210m).
Earlier this yr, BMG printed its H1 2025 outcomes (to finish of June), displaying a 4.4% YoY decline in natural revenues.
Nevertheless, the corporate mentioned its “underlying music streaming income demonstrated excessive single-digit development“.
Previous to becoming a member of BMG in 2020, Coesfeld was a member of the Govt Committee of the Bertelsmann Printing Group, and Chief Technique Officer (CSO) at Mohn Media in Gütersloh.
“I’m very a lot wanting ahead to assuming duty for main Bertelsmann. It’s a problem I’ll tackle with the complete help of the Govt Board, prime administration, and all workers.”
Thomas Coesfeld
Bertelsmann, the multinational agency that Coesfeld might be heading up, along with main BMG, is a media, companies, and schooling firm with roughly 75,000 workers. It operates in over 50 international locations.
Along with BMG, the corporate’s properties embrace the leisure group RTL, ebook writer Penguin Random Home, service supplier Arvato Group, Bertelsmann Advertising Providers, the Bertelsmann Training Group and Bertelsmann Investments, a global community of funds.
The corporate generated revenues of €19 billion (USD $20.56bn) within the 2024 monetary yr.
“I’m very happy with the Supervisory Board’s resolution and congratulate Thomas Coesfeld on behalf of all the Govt Board.”
Thomas Rabe, Bertelsmann
Thomas Rabe, Chairman and CEO of Bertelsmann, mentioned: “I’m very happy with the Supervisory Board’s resolution and congratulate Thomas Coesfeld on behalf of all the Govt Board. We’ve got labored intently and with nice belief for a few years, and I’ll do every thing attainable to make sure a clean transition. Bertelsmann’s management might be in glorious fingers with him and his group.”
“As each an entrepreneur and a supervisor, he has all of the qualities wanted to steer Bertelsmann efficiently and make sure the firm’s continuity.”
Christoph Mohn, Bertelsmann
Christoph Mohn, Chairman of the Bertelsmann Supervisory Board, mentioned: “On behalf of the Supervisory Board, I want to congratulate Thomas Coesfeld on his appointment as the following Chairman and CEO of Bertelsmann.
“As each an entrepreneur and a supervisor, he has all of the qualities wanted to steer Bertelsmann efficiently and make sure the firm’s continuity. Over the previous ten years at Bertelsmann, I’ve come to know Thomas Coesfeld as an entrepreneurial chief.
“In recent times, he has taken the music firm BMG to considerably greater ranges of income and earnings and positioned it much more firmly for the streaming age. His appointment marks a generational change in Bertelsmann’s management. I want him each success and a gradual entrepreneurial hand.”Music Enterprise Worldwide
