You are viewing your 1 free article this month. Login to read more articles.
Random House parent Bertelsmann has appointed Thomas Rabe as its new chairman and c.e.o., effective from 1st January 2012, with the current encumbment, Hartmut Ostrowski, resigning from the executive board "for personal reasons", and moving to the supervisory board.
Rabe has served as chief financial officer and head of the corporate centre at Bertelsmann since 1st January 2006. He has also been responsible for the corporate investments growth initiatives, which include the music rights company BMG.
Ostrowski joined Bertelsmann in 1982, and has worked for the company in various functions ever since. Supervisory board chairman Gunter Thielen said: "Bertelsmann owe[s] Hartmut Ostrowski a great debt of gratitude. He led the company in difficult times. I look forward to continuing to work with him on the supervisory board."
Thielen added: "The shareholders and supervisory board wish Thomas Rabe the best of success in his new role. We are sure that in him, we have an entrepreneur at the top who will lend further momentum to Bertelsmann's growth strategy and future development."