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Rabe: Bertelsmann lacks 'skills' for digital age
12.09.12 | Bookseller Staff
Bertelsmann chief executive Thomas Rabe has told staff that the group does "not have all the skills required" to profit from the digital shift, according to reports.
The Financial Times reports that the Random House parent company's annual closed-doors meeting saw Rabe tell 500 executives yesterday (12th September) that the company's position in the US is "insufficient", and that the group "lacks growth", while "the world around us [is] changing".
Rabe added that the media company needs to return its focus to growing its business in order to create value for its investors, but also attract the kind of talent the company needs to push existing businesses online and to make use of the new opportunities presented by digital.
According to the FT report, Rabe said he would try to make Bertelsmann expand faster "over the next five to 10 years", becoming more digital and more international, focusing on fast-growing emerging markets including Brazil, India and China but also in the US, where the company's main presence is Random House Books.