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Thomas Coesfeld Named New CEO of BMG

Thomas Coesfeld Named New CEO of BMG

Thomas Coesfeld (Photo: BMG/Kai Uwe Oesterhelweg)
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BERLIN (CelebrityAccess) – Thomas Coesfeld has been appointed the new CEO of BMG, effective January 1, 2024 – which will mark the last day for current CEO Hartwig Masuch.

Coesfeld joined the Bertelsmann-owned company as Chief Financial Officer (CFO) in April 2021. In a release, BMG called this “part of a long-term succession plan,” as Masuch remains associated with Bertelsmann in a consultant/advisory role.

Coesfeld will also become a member of the Bertelsmann Group Management Committee (GMC), which advises the Group Executive Board.

Thomas Rabe, Chairman, and CEO of Bertelsmann said: “Hartwig Masuch has shaped the music business at Bertelsmann and far beyond over three decades. Since 2008, he has built the new BMG from scratch with a completely new business model that focuses on the needs of artists and songwriters, based on its core values of service, fairness, and transparency.

“The new BMG works with many of the world’s most successful artists and songwriters. I would like to take this opportunity to thank Hartwig for the services he has rendered to music, to BMG, and to Bertelsmann – and for preparing the transition to his successor, which will be finalized at the end of the year.”

Rabe added: “I am excited to see the next phase of BMG being rung in with the appointment of Thomas Coesfeld as CEO. In his previous role as CFO, he has consistently advanced the company’s digital focus and implemented the Boost investment strategy at BMG together with Hartwig Masuch.

“He will ensure that the needs of artists, songwriters and rights holders remain at the core. BMG has substantial investment funds at its disposal as part of Bertelsmann’s Boost strategy. I wish Thomas Coesfeld every success and look forward to working even more closely with him from next year.”

Masuch commented: “After 32 years at Bertelsmann and more than 14 years at BMG, now is the right time for me to hand over the reins to a new generation. I am convinced that the company will be in the best hands with Thomas Coesfeld and BMG’s outstanding, highly motivated global leadership team.

“As our annual results will show, the company is in excellent shape both creatively and financially. I look forward to a seamless transition by the end of the year. I am sure that under Thomas’ leadership, BMG’s core values of service, fairness and transparency will continue to evolve and flourish, leading the company to even greater success.”

Coesfeld said: “Under Hartwig Masuch’s leadership, BMG has delivered an impressive growth story and developed into a modern music company in which data, technology, and services play a key role. My aim is to continue this success story together with the company’s top management and its more than 1,000 employees worldwide, and to leverage the enormous creative and entrepreneurial potential of the music industry for Bertelsmann. Music has played a vital role at Bertelsmann since 1956. I look forward to leading this legacy into the future.”

Masuch has been CEO of Bertelsmann’s music division since BMG was newly founded in 2008, and has sat on Bertelsmann’s Group Management Committee since 2013.

Coesfeld was appointed Chief Financial Officer (CFO) of BMG in April 2021 and has been a member of the BMG Executive Board since then. Previously, Coesfeld was a member of the Executive Board of Bertelsmann Printing Group and Chief Strategy Officer (CSO) at Mohn Media in Gütersloh.

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