The Supervisory Board of ProSiebenSat.1 Media has announced changes to its Executive Board following MFE becoming the major shareholder in the German company.

Marco Giordani, currently CFO of MFE, assumes the role of Chief Executive Officer (CEO) of ProSiebenSat.1 Media effective immediately. Bert Habets is handing over his role as CEO to Giordani “in best mutual consent” and will take on the role of senior advisor to ProSiebenSat.1 with a particular focus on a seamless transition period until the end of the year.

Bob Rajan will join ProSiebenSat.1 as CFO with immediate effect, succeeding Martin Mildner, who will leave the company. Rajan will take on this position on an interim basis, primarily to drive forward the reorganisation process and to enhance the company’s profitability.

In addition, Markus Breitenecker, previously COO of ProSiebenSat.1 has decided to step down from his role with immediate effect; his position will not be replaced on the level of the Executive Board.

Maria Kyriacou, Chairwoman of the Supervisory Board of ProSiebenSat.1 Media, commented: “We warmly welcome Marco Giordani as CEO of ProSiebenSat.1. His 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 organisations and will fully focus on ProSiebenSat.1 going forward. 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.”

Kyriacou added: “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. He has been the driving force behind our strategic shift towards Entertainment. He strengthened and broadened the entire Entertainment portfolio while at the same time introducing cost efficiencies and leading various rounds of restructurings. Thanks to his decisive leadership, Joyn is now at the heart of our vision to become the leading AVoD streamer in the German-speaking region. Furthermore, Bert truly embodied our company’s values and DNA in every decision he made from day one.

“We also would like to thank Martin Mildner for his valuable contribution as CFO of the Group. He strengthened our financial foundations through decisive efficiency measures, successful portfolio streamlining including the sale of Verivox as well as the exit of General Atlantic, which put ProSiebenSat.1 back in full control over its Commerce & Ventures business. A very special thank you also to Markus Breitenecker for his commitment over 30 years: He built up ProSiebenSat.1 in Austria, founded the current number 1 private TV-channel PULS 4 as well as the news-channel PULS 24 and established the superstreamer Joyn as the market leader in Austria. In his role within the Group, Markus modernised the sales organisation and improved the usability of Joyn, which is the strongest growing AVoD streamer in Germany. With Embedding being part of the new Reformstaatsvertrag, he laid the foundation for embedding content of partners on Joyn,” concluded Kyriacou.