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Bertelsmann Replaces CEO Middelhoff
A clash with shareholders cost Thomas Middelhoff his job at the helm of media giant Bertelsmann – even though the company made money while rivals like AOL Time Warner and Vivendi ran into trouble. Not even one of the deals of the decade – reaping billions from selling a stake in AOL Europe at the height of the Internet bubble – could save Middelhoff from the same fate as Vivendi’s former chief Jean-Marie Messier and Robert Pittman, ousted as head of AOL Time Warner’s AOL division in a management shakeup. Bertelsmann said Sunday that Middelhoff was leaving due to “differing… Read more »