Thomas Coesfeld has been named deputy chief financial officer at BMG, effective Oct. 15. He will assume the role of CFO on April 1, 2021, succeeding Maximilian Dressendörfer, who is taking on new responsibilities at the company.
Since June 2019, Coesfeld has served as chief strategy officer on the executive committee of the Bertelsmann Printing Group, a division of BMG’s parent company Bertelsmann. He also serves as CSO at Mohn Media. In his new role, he will report to BMG CEO Hartwig Masuch and Bertelsmann CFO Bernd Hirsch.
Coesfeld began his career in 2014 as a management consultant at McKinsey in Munich, Germany, where he gained experience in sales and strategy with a focus on the insurance, logistics, and automotive industries. He joined Bertelsmann at the top of 2016 and spent a year working for various subsidiaries, including BMG and Relias in the U.S., as part of the Bertelsmann Entrepreneurs Program (BEP). He moved to Mohn Media in early 2017 and was named CSO there in Nov. 2018.
“I very much look forward to working closely with Thomas Coesfeld,” said Masuch in a statement. “Thomas has demonstrated great entrepreneurial skills in his previous positions. Moreover, he has already worked for BMG during his time in the Bertelsmann Entrepreneurs Program. I am convinced that Thomas, with his strategic perspective and strong customer focus, is the ideal candidate for the CFO position at BMG as we continue our growth path with a strong focus on the needs of artists and songwriters. At the same time, I would like to thank Maximilian Dressendörfer, with whom I have been building BMG for more than ten years. Max was instrumental in our successful development from start-up in 2008 to becoming the world’s fourth largest music company. I wish him all the best for his future.”
Hirsch added, “As a strategic growth platform, BMG is very important to Bertelsmann’s business development. I would like to welcome Thomas Coesfeld to Bertelsmann’s finance community, and look forward to working with him.”