BMG CEO Transition Accelerated
• Bertelsmann has accelerated the long-planned change in leadership at the helm of its BMG division, which was announced in January 2023 — Thomas Coesfeld, current CFO of BMG, will now become the company’s new CEO, effective July 1, 2023 — moving up the timeline from the original date of January 1, 2024. Coesfeld (left) will succeed founding CEO Hartwig Masuch, who is leaving the company at his own request and on the best of mutual terms. Upon taking office at BMG, Coesfeld will also become a member of Bertelsmann’s Group Management Committee (GMC), which advises the Group Executive Board.
Bertelsmann CEO Thomas Rabe said, “I would like to thank Hartwig Masuch and Thomas Coesfeld for the smooth handover at the helm of BMG. Hartwig has written many chapters in BMG’s success story, which Thomas will now continue. Thomas Coesfeld takes the helm of a company whose revenues increased by more than 30 percent in the record-setting year 2022. As CFO, he got to know BMG well, drove forward its digital orientation, and invested considerable funds in the acquisition of music rights. I am certain that BMG will continue to grow under Thomas Coesfeld’s leadership, and I wish him and his new management team the best of luck in their efforts. I also look forward to working with Thomas on the Bertelsmann Group Management Committee.”
Coesfeld has announced further senior appointments for BMG — his successor as CFO will be Mathis Wolter (left), who joins BMG from Bertelsmann’s RTL Group. This marks a return to BMG for Wolter, who previously spent three years at BMG as SVP Controlling & Reporting. Sebastian Hentzschel, currently Chief Technology Officer at BMG, will assume responsibility for the operating areas Rights & Royalties, Supply Chain, and Technology & Data as Chief Operating Officer (COO), and will continue to advance BMG’s global technology platform. Dominique Casimir, who has been with BMG since 2008, will remain responsible for Repertoire and Marketing for the world outside the U.S., as well as Global Synch and Corporate Responsibility, as Chief Content Officer (CCO). Nikola Holle-Spiegel, who joined BMG in 2018, remains the company’s Chief Human Resources Officer.
Wolter, Hentzschel, Casimir and Holle-Spiegel will join Coesfeld on the BMG Executive Board. An additional new appointment to BMG’s top management team is Alberto Chullen Llamas (pictured above, right), who joins BMG from Bertelsmann Education Group as Executive Vice President Investments to drive forward the Boost strategy and support future catalog acquisitions. Chullen Llamas started his career at BMG in 2011, and later became a member of Bertelsmann’s central controlling and investment team, advising on BMG’s catalogue investments. Coesfeld commented, “After 45 acquisitions in 2022 alone, acquisitions remain central to BMG’s growth into 2023 and beyond. We are delighted to have secured the services of such a heavy-hitter as Alberto from within the Bertelsmann family, and one who knows BMG well.”
Commenting on the appointments, Coesfeld said, “We have a strong team at the helm of BMG, bringing together a wide range of skills and experience. Together we will drive the company’s progress, and I very much look forward to working with them all. I would like to thank Hartwig Masuch for handing over a company which is both highly creative and successful. Hartwig’s clear focus on building a company which works for artists and songwriters has resulted in a globally relevant music company which has redefined what a music company can be in the streaming age. Together, with the aid of Bertelsmann’s Boost strategy, we have invested more than €500 million in acquiring music rights catalogs including those of such megastars as Tina Turner, Mötley Crüe, Simple Minds, Jean-Michel Jarre, and ZZ Top. I am excited to build on this incredible foundation. In addition, I very much look forward to working alongside Bertelsmann’s top management on the GMC and would like to thank Thomas Rabe for appointing me to this committee.” [Coesfeld photo: Julia Schoierer]
