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A 35-year-old scion of the family that owns Bertelsmann will become its next chief executive after defeating his older brother in a two-way contest to run the media group.
Thomas Coesfeld will oversee businesses, including publisher Penguin Random House, music group BMG and broadcaster RTL after triumphing over Carsten Coesfeld, 38.
His appointment, which will begin in January 2027 following a transition period, marks the first time in more than four decades that the business will have a family member as chief executive.
Thomas, who has spent the past two years running BMG, will take over from Thomas Rabe, who will have been in the role for 15 years by then.
Bertelsmann chair Christoph Mohn praised Thomas Coesfeld as “both an entrepreneur and a manager” and said he had “all the qualities needed” to successfully lead the company.
It was founded in 1835 by Carl Bertelsmann, with Reinhard Mohn — the Coesfeld brothers’ grandfather — transforming it into a publishing and TV giant with revenues of €19bn last year.
The company, which is 100 per cent owned by the family and their charitable foundations, also owns hundreds of other businesses, including supply chain company Arvato and a Brazilian university group.
Coesfeld’s appointment marks the end of a carefully stage-managed transition process that played out partially in public, prompting comparisons with the HBO drama Succession.
When they were 11 and 14, the Coesfeld brothers were asked over Sunday tea and cake by their grandparents whether they saw a future for themselves in the company.
Both said yes. After stints at Goldman Sachs for Carsten and McKinsey for Thomas, they began rotating around the company that is based in Gütersloh, North Rhine-Westphalia.
They were guided by Rabe, who joined RTL in 2000 and went on to become one of the family’s most trusted lieutenants.
The selection was overseen by an HR committee but with family members including Reinhard Mohn’s widow, Liz, and their son Christoph playing important roles.
Given that the brothers are relatively young and inexperienced to lead an international conglomerate, those in charge of the process at one point considered appointing them co-CEOs with responsibility for different divisions, according to a person familiar with the decision-making process.
That idea was ultimately abandoned in favour of a more traditional model. Thomas had “more potential to grow rapidly into the role”, the person added.
He was seen as having performed well at BMG and being “analytically strong”, with better communication skills.
Given Bertelsmann was a “complex organisation”, being able to “explain messages internally and externally, cutting through the complexity, is key”, the person added.
Carsten Coesfeld will remain on the executive board as well as running its venture capital arm and the Bertelsmann Next growth unit.
While he was “of course” disappointed, according to the person involved in the process, they added: “It’s not about winners and losers — it’s who’s better suited for which job.”
Rabe will also step down as RTL chief executive, with Clément Schwebig — Warner Bros Discovery’s president of western Europe and Africa — taking over in May 2026. He will face helping the broadcaster navigate a tough advertising market and competition from streaming giants such as Netflix.
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