Sarnoff to leave Bertelsmann for private equity firm

Sarnoff to leave Bertelsmann for private equity firm

<p>Richard Sarnoff, who helped negotiate the Google Books Settlement as chair of the Association of American Publishers, is leaving Bertelsmann to join private equity firm Kohlberg Kravis Roberts.</p><p>Sarnoff was most recently president of Bertelsmann digital media investments division, the company&#39;s venture capital fund for emerging technology and new media business opportunities. Sarnoff will join KKR as a senior advisor on 1st February and will be replaced by Bertelsmann chief financial officer Thomas Rabe.</p><p>Sarnoff joined Bantam Doubleday Dell almost 25 years ago as an assistant in the sale and marketing department before eventually becoming CFO of both BDD and Random House US.</p><p>In a note to staff, Random House chief executive Markus Dohle said: &quot;His unequalled strategic and financial savvy, his forward-thinking leadership broke ground for us in new media, corporate development, and investment opportunities. Along the way, he became a valued mentor to many of our current key executives across our international divisions [and] he is held in the highest regard by our industry for his pathfinding work on the proposed Google Book Search legal settlement.&quot;</p>