The Rolling Stones and David Bowie's record label handed over to 33-year-old German journalist

Thomas Kosfeld is being considered as a future candidate for chairman of the Bertelsmann group. Photo: Bertelsmann

Mr Kosfeld joined Bertelsmann in 2016 in the group's printing and marketing division. In April 2021, he took over as CFO of BMG.

His brother Carsten is currently the head of Bertelsmann Investments, the company's venture arm.

The leadership change at BMG, which was previously scheduled for January 2024 and then pushed to a later date, will allow the new generation of the family to rise to the top position.

Mr. Kosfeld, who studied in the US before starting work as a management consultant for McKinsey. , will also become a member of the influential management committee of the Bertelsmann Group, which advises the executive board.

The record company executive will replace Mazukh, 69, who has led BMG since it was founded in 2008. and personally recommended Mr. Kosfeld for the job.

Last year, the couple were pictured with Bertelsmann CEO Thomas Rabe at a Rolling Stones concert in Berlin.

Mr. Masuch, who started out as a musician and producer, had previously planned to leave next year but is said to be keen to retire, scheduling time in Greece and Portugal. Bertelsmann previously had a mandatory retirement age of 60.

Under Mr. Mazuch's leadership, BMG, representing artists such as Rita Ora and Bruno Mars, became the fastest growing division of the Bertelsmann empire, earning 866 million euros. in revenue last year.

Through what it calls the «upgrade strategy», BMG has invested more than 500 million euros in acquiring catalogs of music rights from artists such as Tina Turner and Mötley Crüe.

Mr. Rabe said: “I would like to thank Hartwig Mazuch and Thomas Kosfeld for the smooth handover of control to BMG. Hartwig has written many chapters in the BMG success story that Thomas will now continue.»