ProSiebenSat.1 Shakeup: Bert Habets Steps Down as Board Names Marco Giordani New CEO After Berlusconi Takeover

Marco Giordani, CFO of Berlusconi family-backed MFE-MediaForEurope, has been appointed
new CEO of Germany’s ProSiebenSat.1, succeeding Bert Habets in a management shakeup at the German broadcasting giant.

Habets, who is a former RTL Group CEO, had been named boss of ProSiebenSat.1 in 2022. He has now stepped down after MFE in September closed a takeover bid for ProSieben, securing a 75.1% stake in the Munich-based company in a deal worth € 1.8 billion ($2.11 billion).

“Bert Habets is handing over his role as CEO to Marco Giordani in best mutual consent and will take on the role of senior advisor to ProSiebenSat.1 with a particular focus on a seamless transition period until the end of the year,” a ProSiebenSat.1 statement said.

Bob Rajan, a managing director at equity investment firm Alvarez & Marsal, is being appointed interim chief financial officer with Markus Breitenecker, a 30-year veteran of the company, stepping down as chief operating officer.

According to research firm Enders Analysis, the Prosieben takeover is turning MFE into Europe’s biggest free-to-air broadcasting operator, with revenues of €6.8 billion ($7.92 billion). As well as its German business, ProSiebenSat.1 also operates in Austria and Switzerland, while MFE runs TV operations in Italy and Spain.

The management changes “underscore commitment to accelerate the strategic transformation of ProSiebenSat.1,” according to the statement. MFE is now implementing its plan to integrate the German media company into its existing business.

“We warmly welcome Marco Giordani as CEO of ProSiebenSat.1,” said Maria Kyriacou, chairwoman of ProSiebenSat.1’s supervisory board, in a statement. “His appointment reflects the ambition to further accelerate the strategic transformation with a clear focus on excellence and a leading market position in entertainment.”

She added: “I would like to express our sincere gratitude to Bert Habets for his leadership and strong commitment during a decisive transformative period for ProSiebenSat.1. He has been the driving force behind our strategic shift towards entertainment.”

Giordani has served as CFO of MFE since 2000, where he played a key role in driving the Berlusconi family group’s expansion strategy. Prior to his role as MFE CFO, Giordani held senior leadership roles at Berlusconi’s Mediaset. He will continue to serve as MFE CFO.