Bauer Media Group has announced strategy and leadership changes, ahead of the company’s 150yr anniversary in 2025. The company will focus on core business operations, which it defines as ‘efficiently and professionally producing media that appeals to broad-ranging audiences and offer advertisers a high reach.’
To give the core business areas more influence and responsibility in leadership, and to ensure consistent implementation of the strategy, the company is restructuring its Executive Board. In addition to Yvonne Bauer as Chair of the Board and Gerald Mai as CLO & Operations, the Business Presidents, Jan Wachtel (Publishing) and Vivian Mohr (Audio), will join the Executive Board, which will itself be completed by a yet-to-be-appointed Group CFO. The role of COO will no longer exist in the newly restructured Board.
“With our focused strategy, Bauer Media Group is taking an important step on its path of continuous transformation,” says Yvonne Bauer. “I am confident that by concentrating on our strengths in the media business, we are positioning the company in a future-oriented direction and creating the foundation for sustainable success. I am very pleased that Jan Wachtel and Vivian Mohr are joining the Board. They have proven in recent months that they have clear visions for securing the future of their business areas and are also strong, loyal team players. This is exactly what we need right now.”
Paul Keenan will take on a new role for Bauer Media Group as an advisor to the Chair of the Board and Executive Board. This follows his decision made earlier this year, to step down at the end of September from his role as COO and member of Bauer Media’s Executive Board.
“Paul has been an immensely talented, entrepreneurial and driven member of our team,” said Yvonne. “He has been integral to the transformation of our business and on-going success, and I am looking forward to continuing our work together on new projects and initiatives in the future, albeit in a different role. His vision and ambition for the expansion of our radio business has changed Bauer for good,”
In Publishing, Bauer Media Group aims to optimize processes and leverage synergies to extend the lifecycle of its print magazines. At the same time, the declining print business will be strategically supported by enhancing the digital activities. In Audio, Bauer is pursuing a growth strategy based on a lean broadcasting business and investing in digital audio offerings, as well as enhancing efficiency and collaboration. Through a complementary M&A strategy, both strategic and opportunistic opportunities in Publishing, Audio, and related media sectors will continue to be pursued to ensure the company’s future, minimizing risk and maximizing its digital transformation.