Hartmut Ostrowski, the chief executive of Bertelsmann, owner of RTL, is to stand down as chairman and chief executive.

Ostrowski, who first joined the German company in 1982, will be replaced by long-serving chief financial officer Thomas Rabe on 1 January. The company, which also owns magazine publisher Gruner + Jahr and music joint venture BMG, said that Ostrowski is resigning from the executive board for unspecified personal reasons.

Rabe has served as chief financial officer since 2006, prior to this he held the same position at RTL in Luxembourg.

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