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ProSiebenSat.1 Media SE: Thomas Ebeling will leave the Company by the end of February 2018

  • Successor to be appointed in due course
  • Conrad Albert appointed as deputy chairman of the Executive Board
  • Strategy and financial outlook 2017 confirmed

Unterföhring, November 19, 2017. Thomas Ebeling, who served as chairman of ProSiebenSat.1 Media SE’s Executive Board for many years, will leave the Company after the annual press conference for fiscal year 2017 scheduled for February 22, 2018. This was mutually agreed today by the chairman of the Executive Board and the Company’s Supervisory Board.

Thomas Ebeling had a contract of employment with a term running until mid-2019. However, already in connection with the latest renewal of his contract of employment, he informed the Company that he would not be available for a further subsequent renewal. Against this background, the Supervisory Board initiated the search for a successor some time ago and will appoint a successor in due course.

Conrad Albert, member of the Executive Board with current responsibility for External Affairs & Industry Relations and General Counsel of the Company, who has been with the Company since 2005, has been appointed as deputy chairman of the Executive Board with immediate effect. In particular, the purpose of this appointment is to ensure continuity in the Company and to guarantee the further implementation of the strategy if the successor should not be able to take up his office promptly after the annual press conference.

Dr. Werner Brandt, Chairman of the Supervisory Board of ProSiebenSat.1 Media SE: "Thomas Ebeling has been Chairman of the Executive Board since the beginning of 2009 and has proven during this time to be one of the outstanding entrepreneurs of the media industry. On behalf of the entire Supervisory Board, I would like to thank Thomas Ebeling for his outstanding accomplishments, which have lastly led the Company entering the DAX. Our search for a successor focuses on a personality that continues the outstanding work of Thomas Ebeling and continues to drive diversification and digital transformation with equally entrepreneurial vision and assertiveness. The Supervisory Board expressly supports the current corporate strategy, i.e. the implementation of the three-pillar strategy through the merger of the segments Broadcasting German-speaking and Digital Entertainment, the resulting realization of cost synergies and the potential participation by co-investors in the company's content production and digital commerce businesses. In doing so, we are aligning the Group structure to a dynamically developing media landscape and are laying the foundation for a continued sustainable increase in the enterprise value.”

Thomas Ebeling, Chairman of the Executive Board of ProSiebenSat.1 Media SE: "I am convinced that ProSiebenSat.1 will add further positive chapters to its success story with the measures taken. The announced three-pillar strategy will strengthen ProSiebenSat.1's competitiveness and, at the same time, mark a significant milestone in the diversification and further digital transformation of the Company, which now already generates more than 50% of its revenues outside of the traditional TV business. With its strong TV business, access to data and technology and the dynamically growing commerce business, ProSiebenSat.1 has all the prerequisites to proceed in a successful manner going forward. Already today, I wish the Company, the management team and its passionate and dedicated employees all the best and continued success in this way. My successor will find a motivated and experienced team that is well equipped to continue the success story of ProSiebenSat.1."

At the Capital Markets Day scheduled for December 6, 2017, ProSiebenSat.1 will report, among other things, on the three-pillar strategy and the status of portfolio measures.

ProSiebenSat.1 further confirms the outlook for the full year 2017 updated on November 8, 2017 and anticipates to achieve a mid-single-digit percentage increase in revenues within the group and expects the previous year’s adjusted EBITDA (2016: EUR 1,018 million) and adjusted Group net income (2016: 536 million euros) each to slightly exceed the previous year’s level.

 

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