MFE Overhauls ProSiebenSat.1 Media Leadership Team With C-Suite Execs Out
MediaForEurope (MFE) has consolidated its takeover of ProSiebenSat.1 Media by installing Marco Giordani as CEO, as the previous C-suite exits.
Giordani, currently MFE CFO, has replaced Bert Habets as CEO of the German broadcasting and media giant, with Markus Breitenecker also exiting his COO post and Martin Mildner leaving his CFO role. Habets, the former RTL Group CEO who joined ProSieben three years ago as CEO, will take a senior advisor post until the end of the year to help with the transition period.
Bob Rajan will become CFO with immediate effect on an interim basis, replacing Mildner, who leaves with “best mutual consent.” There will be no replacement COO for Breitenecker, who exits after three decades.
The news comes just over six weeks after MFE grabbed control of ProSieben following a protracted takeover chase, as it seeks to build a consolidated European super-player that rivals global streamers. To this point, it had not made major changes, and Habets said at the time the two companies would “work closely… to identify the most promising opportunities for a deepened collaboration and align our vision for the future.”
Today, Maria Kyriacou, Chairwoman of the Supervisory Board of ProSiebenSat.1, said Giordani’s appointment “reflects the ambition to further accelerate the strategic transformation with a clear focus on excellence and a leading market position in entertainment.”
“Marco brings deep operational expertise, strong financial acumen, a proven track record in leading complex organizations and will fully focus on ProSiebenSat.1 going forward,” she added. “We also welcome Bob Rajan as new CFO. His experience in transformation and restructuring will be instrumental in enabling ProSiebenSat.1 to fully focus on growth in the future.”
Kryiacou said Habets had been the “driving force” in placing streaming service Joyn at the center of ProSieben’s push into entertainment, while also “introducing cost efficiencies and leading various rounds of restructurings.”
“On behalf of the Supervisory Board, I would like to express our sincere gratitude to Bert Habets for his leadership and strong commitment during a decisive transformative period for ProSiebenSat.1,” she added.
Giordani is one of the Berlusconi family-owned MFE’s most trusted execs, having served as CFO at the company and its predecessor, Mediaset, since 2000. He has more than three decades of experience in media and retail and will now lead on strategy, operations and financials at ProSieben.
Rajan is Managing Director of global consulting firm Alvarez & Marsal. He has a background in company transformation and interim C-suite leadership. At ProSieben, which owns channels such as Sat.1 and production group Seven.One Studios, he’ll focus on an “ongoing transformation and help the company to fully focus on growth.”
After the takeover of ProSieben, which operates in Germany, Austria and Switzerland, Rome-based MFE has a five-territory footprint in Europe. It also owns Mediaset-branded TV operations in Italy and Spain, and has been in talks with Portugal’s Impresa about taking a stake in that business.
