The changes at Germany’s ProSiebenSat. 1 took further shape Monday when the German media giant said Seven. One Entertainment Group CEO Wolfgang Link will exit the company next month amid a restructure and downsizing of the group’s executive board.
Link, who has spent the past 14 years at ProSiebenSat. 1, exits as the group continues to sharpen its core focus on entertainment and investments to bolster it. He will depart July 15, after which ProSiebenSat.
1 Group CEO Bert Habets will directly manage the segment going forward. Link will stay on as advisor until at least the end of 2023, both parties said, saying the decision for Link to depart was by mutual agreement. Related Story Karl Lagerfeld Doc To Prime Video; ITV Re-Ups ‘The 1% Club; ProSiebenSat.
1 CFO — Global Briefs “The reorganization of the executive board is the logical consequence of the focus on the entertainment business,” Andreas Wiele, chairman of the Supervisory Board of ProSiebenSat. 1 Media SE, said today. “Here, Bert Habets can set new accents as CEO.
The downsizing of the executive board is also in line with the group-wide transformation program to optimize structures and costs. ” Link was previously responsible for the Entertainment segment and was CEO of Seven. One when he was appointed to the board in March 2020.
Before that he held various management positions at ProSiebenSat. 1, and helped integrate entertainment sales with individual station brands as well as content, digital and distribution areas. He also advanced the development of the newsroom and innovative and local entertainment formats.
Most recently he was responsible for the takeover of Joyn, the streaming service that has become the core of ProSieben’s digital entertainment strategy. “ProSiebenSat. 1 continues to be an entertainment icon.
I am certain that we will make the most of this company’s great potential if we act decisively and consistently, despite the difficult market environment,” Habets said. “The transformation of the group is essential, and we will continue to invest heavily in local and international content in the future. ” Added Link: “I look back on the past 14 years with great gratitude.
Together with a great team, we have written a piece of entertainment history. I say thank you from the bottom of my heart to all colleagues, artists, producers, advertisers and business partners who have accompanied me on this fantastic journey. It was and is a great privilege to inform and entertain Germany with great content every day.
I look forward to continuing to serve ProSiebenSat. 1 as an advisor. ” In November, ProSiebenSat.
1 Media posted third-quarter group revenues of €921 million ($955. 7M), a drop of 13%. Profits also fell from €162M in the same three months last year to €118M.
It said in March of this year it was shifting its strategic focus to entertainment to address “tech challenges of the market environment and the changing media landscape,” with acquisitions playing a core part in the plan. .
From: deadline
URL: https://deadline.com/2023/06/wolfgang-link-leaving-prosiebensat1-entertainment-boss-shakeup-1235414861/
