Olaf Schröder will continue as chief executive of Constantin Medien after the German media company agreed a three-year extension to his contract.
Schröder’s new contract will run until December 31, 2021. He has served as chief executive since August 2017, having been chief operating officer of sports since January 2016.
As chief executive, Schröder (pictured) coordinates the management board’s policy and is responsible for the strategic development of Constantin Medien, merger and acquisition activities, communications and human resources, as well as the activities of the Constantin Medien subsidiaries in sport, including German sports broadcaster Sport1 and the Sport1 Media advertising sales division.
In addition to his management board seat with Constantin Medien, he continues to be the chairman of the management of Sport1.
Dr Paul Graf, chairman of the supervisory board of Constantin Medien, said: “With his leadership skills, his know-how and network in the sports media industry, Olaf Schröder stands for Constantin Medien AG’s focus on sports and the operating business. On behalf of the supervisory board, I am looking forward to working together with him in the future.”
Today’s (Friday’s) announcement comes after a period of upheaval. Highlight Communications, backed by Lucerne-based Studhalter Investment, last week secured a majority stake in Constantin Medien.
Highlight and Studhalter acquired nearly 10 per cent of the company through a so-called “acceptance period” that was offered to remaining shareholders and concluded on February 5.
The acceptance period was launched after Highlight, which already controlled just under 30 per cent of Constantin, struck a deal to snap up a further 38.44 per cent of the company through the Studhalter partnership.
Following the acceptance period, Highlight and Studhalter control more than 78 per cent of Constantin.
Highlight controls Team Marketing, which has a long-term agreement with Uefa, football's European governing body, under which it serves as the exclusive agency for the global marketing of commercial rights relating to the Champions League, Europa League and Super Cup club competitions.