Bertelsmann is bringing forward the planned change in leadership at BMG.
Thomas Coesfeld, the 33-year-old CFO of BMG, will now become the music company’s new CEO with effect from July 1, 2023 - six months ahead of the original schedule.
He succeeds the founding CEO Hartwig Masuch, who is leaving BMG and Bertelsmann at his own request. Upon taking office at BMG, Thomas 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% 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.”
As he prepares to take office as CEO, Coesfeld has announced further senior appointments for BMG.
The new chief financial officer – his successor in this office – will be Mathis Wolter, who joins BMG from RTL Group.
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.
Dominique Casimir, who has been with BMG since 2008, will remain responsible for repertoire and marketing for the world outside the US, as well as global sync and corporate responsibility, as chief content officer.
Nikola Holle-Spiegel, who joined BMG in 2018, remains the company’s chief human resources officer.
Mathis Wolter, Sebastian Hentzschel, Dominique Casimir and Nikola Holle-Spiegel will join Thomas Coesfeld on the BMG executive board. An additional new appointment to BMG’s top management team is Alberto Chullen Llamas, who joins BMG from Bertelsmann Education Group as executive vice president investments to drive forward the parent company’s ‘boost’ strategy and support future catalogue acquisitions.
Thomas 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 catalogues 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.”
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