Thomas Coesfeld will continue to lead BMG as CEO from January 2027 onward, when he assumes the role of Chairman and Chief Executive Officer of BMG’s parent company, Bertelsmann.
A BMG spokesperson confirmed today (November 13) that the executive will assume the dual role when he succeeds Thomas Rabe as head of Bertelsmann after the latter executive’s contract expires on December 31, 2026, after 15 years.
News about Coesfeld’s appointment as Chairman and CEO of Bertelsmann broke earlier today.
“I am very much looking forward to assuming responsibility for leading Bertelsmann,” said Coesfeld in a statement this morning. “It is a challenge I will take on with the full support of the Executive Board, top management, and all employees,” he added. “I would like to thank the Supervisory Board – and in particular its Chairman, Christoph Mohn – for the trust they have placed in me.”
Coesfeld was appointed as CEO of BMG on July 1, 2023, succeeding Hartwig Masuch in the role. He has been a member of the Bertelsmann Executive Board since 2024.
Coesfeld was previously Chief Financial Officer of BMG from April 2021, and before that was Deputy Chief Financial Officer of BMG from October 2020.
Under Coesfeld, BMG generated EUR €963 million (USD $1.04bn) in annual revenues in 2024, up 6.4% YoY or up 8.1% YoY on an organic basis.
BMG’s adjusted operating EBITDA in 2024 reached an all-time high of EUR €265 million ($287m), up 37% YoY compared to the prior year’s equivalent result of €194 million ($210m).
Earlier this year, BMG published its H1 2025 results (to end of June), showing a 4.4% YoY decline in organic revenues.
However, the company said its “underlying music streaming revenue demonstrated high single-digit growth“.
Prior to joining BMG in 2020, Coesfeld was a member of the Executive Committee of the Bertelsmann Printing Group, and Chief Strategy Officer (CSO) at Mohn Media in Gütersloh.
“I am very much looking forward to assuming responsibility for leading Bertelsmann. It is a challenge I will take on with the full support of the Executive Board, top management, and all employees.”
Thomas Coesfeld
Bertelsmann, the multinational firm that Coesfeld will be heading up, in addition to leading BMG, is a media, services, and education company with approximately 75,000 employees. It operates in over 50 countries.
In addition to BMG, the company’s properties include the entertainment group RTL, book publisher Penguin Random House, service provider Arvato Group, Bertelsmann Marketing Services, the Bertelsmann Education Group and Bertelsmann Investments, an international network of funds.
The company generated revenues of €19 billion (USD $20.56bn) in the 2024 financial year.
“I am very pleased with the Supervisory Board’s decision and congratulate Thomas Coesfeld on behalf of the entire Executive Board.”
Thomas Rabe, Bertelsmann
Thomas Rabe, Chairman and CEO of Bertelsmann, said: “I am very pleased with the Supervisory Board’s decision and congratulate Thomas Coesfeld on behalf of the entire Executive Board. We have worked closely and with great trust for many years, and I will do everything possible to ensure a smooth transition. Bertelsmann’s leadership will be in excellent hands with him and his team.”
“As both an entrepreneur and a manager, he has all the qualities needed to lead Bertelsmann successfully and ensure the company’s continuity.”
Christoph Mohn, Bertelsmann
Christoph Mohn, Chairman of the Bertelsmann Supervisory Board, said: “On behalf of the Supervisory Board, I would like to congratulate Thomas Coesfeld on his appointment as the next Chairman and CEO of Bertelsmann.
“As both an entrepreneur and a manager, he has all the qualities needed to lead Bertelsmann successfully and ensure the company’s continuity. Over the past ten years at Bertelsmann, I have come to know Thomas Coesfeld as an entrepreneurial leader.
“In recent years, he has taken the music company BMG to significantly higher levels of revenue and earnings and positioned it even more firmly for the streaming age. His appointment marks a generational change in Bertelsmann’s leadership. I wish him every success and a steady entrepreneurial hand.”Music Business Worldwide
