ProSiebenSat.1 has separated from its CEO Max Conze. The media group announced this in a press release. The company wants to focus its operational business more on the entertainment sector, but it will change its strategy and management, it said.
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The separation from Conze follows the announcement by the long-time vice chief Conrad Albert that he wants to leave the group after 15 years. Earlier, Albert had criticized the CEO’s personnel policy in an interview with the “Süddeutsche Zeitung”. “The current situation is making this increasingly difficult,” he told the newspaper. He would have drawn the consequences from this, he said, and announced his withdrawal for 2021. Only a few days later, the earlier separation was announced.
CFO Rainer Beaujean also takes on the position of CEO. “This company has far more potential than is currently assigned to it externally,” Beaujean is quoted as saying. “The corona pandemic will present us with a very big challenge in the next few weeks and months. But I am firmly convinced that we will emerge from this crisis stronger and create value for our shareholders again.” ProSiebenSat.1 managers Christine Scheffler and Wolfgang Link are newly appointed to the board.
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The group is in crisis. This year the stock lost more than half of its market value. It was not until Monday that it became known that the Italian group Mediaset had increased its stake in the German media company ProSiebenSat.1. The share of the Spanish subsidiary Mediaset España increases with the additional 4.25 percent of the shares to a total of 20.1 percent.
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