July 28, 2002, Bertelsmann announced the firing of its CEO, Thomas Middelhoff, in a move that surprised industry observers, analysts, and many employees. Bertelsmann, a privately held company with headquarters in Germany, was one of the world's largest media conglomerate, with businesses spanning publishing, printing, music and television. Between 1998 and 2002, Middelhoff initiated a number of strategic initiatives to promote greater integration between its various business units and strengthen their competitive position, formulated a set of principles that would revise the portfolio mix of Bertelsmann, Bertelsmann and looked prepared to go to the planned initial public public offering in 2005. This case describes these initiatives in detail and Supervisory Board decides to implement the change in leadership. Director General of the new, Gunter Thielen, had to decide whether to make fundamental changes in corporate strategy or a more modest rethinking of course charted Middelhoff. Includes color exhibits.
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by Bharat N. Anand, Michael G. Rukstad Source: Harvard Business School 29 pages. Publication Date: March 25, 2003. Prod. #: 703405-PDF-ENG
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