Bertelsmann

From 1971 to 2012, the company was a joint stock company under German law (Aktiengesellschaft). Subsequently, the company was transformed into a partnership limited by shares (Kommanditgesellschaft auf Aktien). The general partner is a European stock corporation (Societas Europaea). The company's rationale for this move, among others, was the aim of opening up for investors, thus enabling them to participate in the financing of additional growth. The media commented the change of the legal structure "the turn of an era", as it essentially also enables the company to go public. This move was not ultimately implemented, however.  The new legal entity does not change any of the ownership of Bertelsmann. As early as the 1970s and 1980s, the Mohn family built up the Stiftung, which has owned the majority of shares in the company since 1993. In addition to social responsibility, tax considerations played a role in this. Moreover, this strategy was intended to preserve the continuity of the company. Today, according to the company, the Mohn family holds 19.1% of the shares. The three foundations, Bertelsmann Stiftung, Reinhard Mohn Stiftung and BVG Stiftung, together own 80.9%. The BVG has key influence on the whole group: It bundles all the voting rights of the Mohn family and foundations with ownership shares. Together, they own 100 percent in the general assemblies of the group company and its general partner. Bertelsmann SE & Co. KGaA is managed by the Bertelsmann Management SE. The Chairman of the executive board of Bertelsmann Management SE is Thomas Rabe. Other members of the executive board include Markus Dohle, Immanuel Hermreck, Bernd Hirsch and Anke Schäferkordt. In 2012, the company created the additional so-called Group Management Committee, in order to advise the executive board in important matters. Some members of the media noted that a relatively large number of women have been appointed to the Group Management Committee.