Bertelsmann has named Thomas Coesfeld as its next chairman and CEO, effective January 1, 2027. The announcement, made on November 13, follows Thomas Rabe’s 15-year tenure and signals a planned leadership transition. Importantly, Coesfeld will lead both Bertelsmann and BMG in a dual capacity.
Coesfeld’s Rapid Rise
Coesfeld’s rise has been rapid. He became BMG CEO in 2023 and joined Bertelsmann’s executive board in 2024. Before that, he served as BMG CFO and as chief strategy officer at Bertelsmann Printing Group. Moreover, he began his career as a management consultant at McKinsey in Munich. Rabe praised the appointment and promised to help ensure a smooth handover. Likewise, Coesfeld thanked the Supervisory Board and said he looks forward to leading with the support of the executive team.
The leadership change comes as BMG undergoes major restructuring. For example, Coesfeld centralized catalog, sales, and marketing into global roles. Consequently, Los Angeles became the hub for catalog operations. He also ended BMG’s distribution deal with Warner’s ADA; instead, digital distribution was brought in-house while Universal handles physical formats. Additionally, he expanded tech investment and cut non-core units to streamline the business. As a result, BMG kept steady operating profits in H1 2025 despite an 8% revenue decline.
Financial Performance
Financially, Bertelsmann remains large and diverse. Specifically, the company reported €9.1 billion in revenue for the first half of 2025 and operates in roughly 50 countries. Meanwhile, BMG’s streaming revenue grew in the high single digits and now represents 72% of its total revenue. Furthermore, the supervisory board announced another change: Clément Schwebig will become CEO of RTL Group on May 1, 2026.
In conclusion, Coesfeld’s promotion signals both continuity and change. On one hand, it keeps leadership within Bertelsmann’s ecosystem; on the other, it accelerates a shift toward catalog-driven, digital growth. Ultimately, unified leadership aims to position Bertelsmann for the evolving media and music landscape.
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