Bertelsmann sets out on aggressive expansion

Jörn Krieger ©RapidTVNews | 11-10-2011

German media company Bertelsmann wants to embark on an aggressive expansion course under the leadership of its new CEO Thomas Rabe.
"The growth dynamics must get bigger. We want to invest €1 billion each year into this," Gunter Thielen, head of the supervisory board, told German newspaper "Frankfurter Allgemeine Zeitung".
Bertelsmann would now be fully programmed to attack again, said Thielen. "I am therefore certain that we will have several new business areas in five years. Many of them will be internet-based and be situated less in Europe than in Asia and America."
Europe's largest media company announced on 10 October 2011 that CEO Hartmut Ostrowski will move into the supervisory board "for personal reasons" at the end of the year. His successor at the head of the RTL parent company will be Thomas Rabe, currently CFO.
Asked about the background of the unexpected leadership change, Thielen said: "Mr. Ostrowski has asked for this as he is not certain whether he will be able to work another five years with full force and in full health. Health is more important than doing this job. And it is also important for the company that it is headed by a man in top condition."