Bertelsmann Education Group c.e.o., Kay Krafft, has been appointed to the Bertelsmann’s Group Management Committee (GMC), effective as of 1st January.
Krafft, 45, who began working for the international media, services, and education company in 2006, has been responsible for the expansion of its education sector - one of the company's "strategic growth platforms" - since March 2014. Bertelsmann Education Group launched under Krafft's leadership in September 2015. The focus of the group is online education and "bringing education closer to employment", with a goal to create €1bn of revenues "in the medium term".
Chairman and c.e.o. of Bertelsmann, Thomas Rabe, said: “Kay Krafft’s appointment to our group management committee underscores the strategic importance of the education business for Bertelsmann. He has ensured that Bertelsmann now has relevant businesses in the education sector. We will continue to expand our education business into a third pillar alongside media and services. I look forward to working even more closely with Kay Krafft on the continuation of this growth story.”
Krafft is credited in helping to transform music company BMG from start-up to a major player, having been its chief investment officer from 2009 to early 2014. Prior to this, he headed the M&A department at Bertelsmann. From 2000 to 2005, Krafft was a partner at the consulting firm Deloitte.
The Group Management Committee advises and assists the Bertelsmann Executive Board on "important matters" of group strategy and development. The GMC's 17 members represent seven nationalities, and includes Rabe; Fernando Carro, c.e.o. of Arvato; Markus Dohle, c.e.o. of Penguin Random House; Gail Rebuck, chair of PRH's UK board; Immanuel Hermreck c.h.r.o. Bertelsmann; and Anke Schäferkordt co-c.e.o. RTL Group among other "top managers".