BMG CEO Thomas Coesfeld joins Bertelsmann board of directors

BERLIN, Germany (CelebrityAccess) – BMG parent company Bertelsmann has announced the following appointments: Thomas Coesfeld To the Board of Directors. Coesfeld, who has been CEO of BMG since July 2023, will now oversee Bertelsmann’s music division as a member of the board of directors. The move is part of the company’s strategy to strengthen its position and achieve growth in the music industry.

Coesfeld’s journey at Bertelsmann has been marked by significant contributions to the company’s music division. Since assuming the role of CEO of BMG on July 1, 2023, Coesfeld has been instrumental in restructuring the music business in line with the “BMG Next strategy.” His efforts have focused on adapting to the rapidly changing music rights landscape, optimizing digital and physical music distribution, and streamlining operations to reduce overheads.

Prior to becoming CEO, Coesfeld served as BMG’s Chief Financial Officer (CFO) since April 2021. During his tenure, he played a key role in implementing the Bertelsmann Boost strategy for the music business, contributing to its financial and strategic direction. Coesfeld’s leadership has been characterized by a forward-thinking approach, including introducing artificial intelligence into music operations and bringing digital distribution in-house.

Under Coesfeld’s leadership, BMG continued to thrive, achieving its “best quarter ever” in the first quarter of 2024, as reported at the company’s second annual Music Investor Conference in New York. BMG’s annual revenue reached €905 million ($979 million) in 2023, up 4.6% year-over-year. Operating EBITDA was stable at €194 million ($210 million), but the focus was on maintaining growth and capitalizing on new opportunities in the music market.

Coesfeld was dedicated to expanding BMG’s investments in the United States and oversaw significant restructuring efforts, including a partnership with Republic Records. Jelly roll New album. These initiatives are part of a broader strategy to position BMG for future growth and success in a competitive industry.

With Coesfeld’s appointment to the Bertelsmann Board of Directors, he joins an outstanding group of leaders including:
– Thomas Rabe: Chairman and CEO of Bertelsmann and CEO of the RTL Group.
– Carsten Coesfeld: Member of the Board of Management responsible for Bertelsmann Investments and Financial Solutions.
– Rolf Hellermann: Chief Financial Officer of Bertelsmann.
– Emmanuel Hermerek: Chief Human Resources Officer at Bertelsmann.

Labe, Bertelsmann’s Chairman and CEO expressed his confidence in Coesfeld’s abilities: “I am delighted that Thomas Coesfeld has joined the Bertelsmann Board of Directors as a new member. He knows Bertelsmann well from his various positions. As CEO of BMG, he has made important decisions for the future of the business, such as bringing digital distribution in-house and using artificial intelligence in various areas of the music business. Thomas will also enrich the work of the Board of Directors. I look forward to working with him even more closely.”

Christophe Mon, The Chairman of the Bertelsmann Supervisory Board also praised Coesfeld’s appointment, highlighting his strategic skills and entrepreneurial instincts: “In various management functions and now as CEO of BMG, he has developed and focused the business with his strategic skills and outstanding entrepreneurial instincts. I am delighted that Thomas will now contribute his experience and skills to the development of Bertelsmann’s Executive Board. I wish him every success in this endeavor.”

As Coesfeld steps into this new role, he expresses his gratitude and commitment to driving Bertelsmann’s growth: “I would like to thank the Supervisory Board for the trust they have placed in me. Working together with my fellow Executive Board members under the leadership of Thomas Rabe, I appreciate his continued support and feel the great opportunity and at the same time the obligation to further develop Bertelsmann and the BMG business units with full dedication. I am very much looking forward to this.”

Prior to joining BMG, Coesfeld served on the Executive Board of Bertelsmann Printing Group (now Bertelsmann Marketing Services) and as Chief Strategy Officer (CSO) of Mohn Media. His career at Bertelsmann began in early 2016 with participation in the Bertelsmann Entrepreneurs Program and working with BMG and Relias in the United States.