Gruner+Jahr CEO leaves Bertelsmann Board of Directors
Bernd Kundrun, head of the German publishing house Gruner+Jahr, has unexpectedly resigned from the board of directors of the parent company Bertelsmann. Bernd Kundrun has unexpectedly stepped down from the leadership of the parent company Bertelsmann. As the company announced in the middle of last week, Kundrun resigned from his position effective immediately.
Bernd Kundrun, head of the German publishing house Gruner+Jahr, has surprisingly resigned his
Board of Directors mandate at parent company Bertelsmann resigned. Bernd Kundrun has surprisingly left the management of the parent company Bertelsmann. As the Group announced in the middle of last week, Kundrun has resigned from his position with immediate effect.
However, the manager will remain the head of Europe's largest magazine publisher. He did not wish to comment on the background to Kundrun's move. According to the news magazine Focus, the manager justified his voluntary departure internally with conflicts of interest. The background to this was a power struggle with the Gütersloh-based parent company and its CEO Hartmut Ostrowski, the magazine reported in its online edition.
In recent weeks, Kundrun had urged Ostrowski in vain not to pass on Gruner+Jahr's profits to Bertelsmann as before in view of the industry crisis, but to use them for his own investments. Kundrun's aim had also been to make jobs at Gruner+Jahr more secure. Following a massive decline in advertising revenue, the publishing house is dissolving the editorial teams of its business magazines Capital, Impulse and Börse Online.
Board of Directors mandate at parent company Bertelsmann resigned. Bernd Kundrun has surprisingly left the management of the parent company Bertelsmann. As the Group announced in the middle of last week, Kundrun has resigned from his position with immediate effect.
However, the manager will remain the head of Europe's largest magazine publisher. He did not wish to comment on the background to Kundrun's move. According to the news magazine Focus, the manager justified his voluntary departure internally with conflicts of interest. The background to this was a power struggle with the Gütersloh-based parent company and its CEO Hartmut Ostrowski, the magazine reported in its online edition.
In recent weeks, Kundrun had urged Ostrowski in vain not to pass on Gruner+Jahr's profits to Bertelsmann as before in view of the industry crisis, but to use them for his own investments. Kundrun's aim had also been to make jobs at Gruner+Jahr more secure. Following a massive decline in advertising revenue, the publishing house is dissolving the editorial teams of its business magazines Capital, Impulse and Börse Online.
