Thomas Rabe, chief financial officer of Bertelsmann, will replace Richard Sarnoff as president of corporate venturing unit Bertelsmann Digital Media Investments from February 1.
Richard Sarnoff, president of Bertelsmann Digital Media Investments (BDMI), the corporate venturing unit of Germany-based media group Bertelsmann, has joined private equity firm Kohlberg Kravis Roberts (KKR) as a senior adviser.
Thomas Rabe, chief financial officer of Bertelsmann, will replace Sarnoff as president of BDMI from February 1.
Sarnoff was also previously co-chairman of Bertelsmann’s US operation. At KKR, Sarnoff will help the firm agree more leveraged buyouts and advise on its existing portfolio of media assets.
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