(Reuters) -Italy’s MFE-MediaForEurope has tightened its grip on German broadcaster ProSiebenSat.1 by appointing Marco Giordani as chief executive, marking a shift in leadership after the Berlusconi-backed group closed its takeover bid in September.
Giordani joins ProSieben from MFE, where he was the CFO since 2000.
“Marco brings deep operational expertise, strong financial acumen, a proven track record in leading complex organizations and will fully focus on ProSiebenSat.1 going forward,” Maria Kyriacou, chairwoman of ProSieben’s supervisory board said in a statement.
MFE had built its stake in ProSieben since 2019, reaching a level of nearly 30% before launching a takeover bid earlier this year. The company now holds over 75% of ProSieben.
Bob Rajan, formerly of Alvarez & Marsal Private Equity Performance Improvement, will take over as CFO on an interim basis.
Former CEO Bert Habets will step down, along with CFO Martin Mildner and COO Markus Breitenecker, the media group said in a statement on Tuesday.
Breitenecker’s role will not be replaced at executive board level.
(Reporting by Bernadette Hogg, editing by Thomas Escritt and Louise Heavens)
