Bauer Media Group strengthens leadership team

Bauer Media Group has announced it is taking the next step in its transformation process by refining its strategy and leadership structure. Approaching its 150th anniversary in 2025, the company is focusing on its core business and laying the right foundations to secure its long-term success in the digital media sector.

Bauer Media Group says it is known for producing media that appeals to broad-ranging audiences and offers advertisers a high reach. Going forward, the international media company has announced it will focus entirely on these strengths, enhancing its core business areas, Publishing and Audio, and amplifying these with smart M&A.

To give the core business areas more influence and responsibility in leadership, and to ensure consistent implementation of the strategy, the company has announced it is restructuring its executive board. In addition to Yvonne Bauer as chair of the board and Gerald Mai as CLO & operations, the business presidents, Jan Wachtel (Publishing) and Vivian Mohr (Audio), will join the executive board from 1 October 2024.

Jan Wachtel has been with Bauer Media Group since January 2023 and brings extensive experience in the media and publishing industry from leadership roles at BILD, Funke Mediengruppe and RTL Group. Vivian Mohr joined Bauer Media Group in February 2022 as CFO and COO of the OCP business and was appointed president of Audio in September 2023. He brings over 10 years of practical experience in leading organizations through complex transformations.

Bauer Media Group says the executive board will be completed by a yet-to-be-appointed Group CFO.

“With our focused strategy, Bauer Media Group is taking an important step on its path of continuous transformation,” says Yvonne Bauer. “I am confident that by concentrating on our strengths in the media business, we are positioning the company in a future-oriented direction and creating the foundation for sustainable success. I am very pleased that Jan Wachtel and Vivian Mohr are joining the Board. They have proven in recent months that they have clear visions for securing the future of their business areas and are also strong, loyal team players. This is exactly what we need right now. I am proud to lead the Bauer Media Group as a family business in its fifth generation and to ensure that we continue to shape the media industry in the decades to come.”

Paul Keenan will take on a new role for Bauer Media Group as an advisor to the chair of the board and executive board. This follows his decision made earlier this year, to step down at the end of September from his role as COO and member of Bauer Media’s executive board. “Paul has been an immensely talented, entrepreneurial and driven member of our team. He has been integral to the transformation of our business and on-going success, and I am looking forward to continuing our work together on new projects and initiatives in the future, albeit in a different role. His vision and ambition for the expansion of our radio business has changed Bauer for good,” comments Yvonne Bauer. The role of COO will no longer exist in the newly restructured board.

Focus on Publishing and Audio

In Publishing, Bauer Media Group says it aims to optimize processes and leverage synergies to extend the lifecycle of its print magazines. At the same time, the declining print business will be strategically supported by enhancing the digital activities. In Audio, Bauer says it is pursuing a growth strategy based on a lean broadcasting business and investing in digital audio offerings, as well as enhancing efficiency and collaboration. Through a complementary M&A strategy, both strategic and opportunistic opportunities in Publishing, Audio, and related media sectors will continue to be pursued to ensure the company's future, minimizing risk and maximizing its digital transformation.

Over previous decades, Bauer Media Group says it has continuously evolved to keep pace with changes in the media sector. Yvonne Bauer: “As entrepreneurs, we have explored various avenues and opened new markets. Today, we have a clear understanding of what we excel at. Commercial mass media is in our DNA, and we are experts in managing and developing mature business fields.” At the same time, the company says it has identified areas where it does not see itself as the best long-term owner. In recent years, Bauer Media Group has reevaluated activities outside the media sector, exited the SME segment, and brought in strong partners as majority shareholders for the OCP business.