Germany: Fred Kogel leaves position of CEO of Constantin Medien AG, 22/08/2017

Fred Kogel, 56 years old, has left the position of CEO and member of the supervisory board of Constantin Medien AG, said the German media group on 23/08/2017. This decision took effect on 22/08/2017. Fred Kogel had extended his contract at the head of Constantin Medien AG until 31/12/2018, on 01/03/2017.

Chairman Dieter Hahn and all five other members of the supervisory board of the German company also decided not to stand for re-election on 22/08/2017. Paul Graf was elected Chairman of the supervisory board on 23/08/2017.

These departures follow tensions within the group management between the two majority private shareholders Dieter Hahn and Bernhard Burgener. In December 2016, Dieter Hahn wanted to take control of Constantin Medien and its subsidiary Highlight Communications AG, of which Bernhard Burgener is president. Fred Kogel and Dieter Hahn also wanted to refocus the activity of the German group on sport, and sell the branch Constantin Film, a subsidiary of Highlight Communications AG. The holding company Highlight Event & Entertainment AG, a shareholder of Constantin…