BMG has announced Hartwig Masuch will be succeeded by Thomas Coesfeld as CEO.
and ZZ Top. On the label side, BMG has signed Duran Duran, Santana, Bryan Adams, Maxwell and Louis Tomlinson.
BMG has also moved into the live business, first by acquiring a majority stake in German live music promoter Undercover GmbH in 2020 and later with a similar alliance with KARO Konzert-Agentur Rothenburg GmbH, the organizer of the German Taubertal-Festival.
“After 32 years at Bertelsmann and more than 14 years at BMG, now is the right time for me to hand over the reins to a new generation,” Masuch said in the company’s announcement. “I am convinced that the company will be in the best hands with Thomas Coesfeld and BMG’s outstanding, highly motivated global leadership team. As our annual results will show, the company is in excellent shape both creatively and financially. I look forward to a seamless transition by the end of the year.
“I am sure that under Thomas’ leadership, BMG’s core values of service, fairness and transparency will continue to evolve and flourish, leading the company to even greater success,” said Masuch. Added Coesfeld, “Under Hartwig Masuch’s leadership, BMG has delivered an impressive growth story and developed into a modern music company in which data, technology, and services play a key role. My aim is to continue this success story together with the company’s top management and its more than 1,000 employees worldwide, and to leverage the enormous creative and entrepreneurial potential of the music industry for Bertelsmann.
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