Björn Bauer has been named CFO of the newly combined BMG and Concord, it was announced on Tuesday (May 12). Based in Nashville, Bauer will report to Bob Valentine, who has been designated CEO of the combined entity.
Bauer joins from entertainment company RTL Group, which is majority-owned by BMG parent company Bertelsmann. At RTL, where he’s been CFO since 2019, he serves as an executive director and member of the executive committee. In his role there, Bauer “has played a key part in advancing RTL Group’s transformation, including focusing the Group’s portfolio on its largest business units, diversifying its global content business Fremantle and building a profitable streaming business,” according to a press release. He has been involved in RTL deals including its acquisition of Sky Deutschland (GSA) and the sale of RTL Netherlands.
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Before joining RTL Group, Bauer had held senior leadership roles at Bertelsmann since 2007, including as executive vp of corporate controlling and strategy and CFO of Relias, Bertelsmann’s U.S.-based online learning provider.
Until the BMG-Concord transaction closes, current BMG CFO Mathis Wolter will continue in his role at the Berlin-based company and support the integration with Concord before moving to a new role within Bertelsmann. Current Concord CFO Kent Hoskins will also continue serving in his role there until the close of the deal, at which point he’s expected to take on another senior leadership position at the combined company.
“Björn brings a wealth of experience and a proven track record of delivering strong results through operational excellence and disciplined financial management,” said Thomas Coesfeld, designated chairman of the combined BMG and Concord, in a statement. “We are delighted that he is expected to join the combined company following completion of the transaction and look forward to the impact he will have as we continue to strengthen and grow the business. At the same time, I would like to thank Mathis for playing an instrumental role in shaping BMG’s strategic transformation, and for being a trusted partner to me and the executive team over the past three years.”
“We are pleased that Björn is expected to join the combined company as CFO. His deep financial expertise will be invaluable as the company continues to focus on sustainable growth and long-term value creation after the transaction closes,” added Valentine.
For his part, Bauer said: “As the global music industry evolves, the combination of BMG and Concord will be uniquely positioned to capture new opportunities through its talent focus, entrepreneurial spirit and global scale, supported by continued investments in catalogs and talent. I am excited to join the combined company upon closing of the transaction, a pivotal moment in its growth journey. I look forward to partnering with the teams to drive the combined company’s next phase of growth and support its long-term strategic ambitions.”
