Bertelsmann CFO Hartmann to Step Down Jan. 31 -- Update

By Ellen Emmerentze Jervell 

FRANKFURT--Bertelsmann SE & Co Friday announced that Chief Financial Officer Judith Hartmann is leaving the company.

Ms. Hartmann, 45, who joined the German media conglomerate's Executive Board in 2012, is leaving Bertelsmann, effective Jan. 31, 2015, after a mutual agreement with the Supervisory Board that her contract shouldn't be extended.

"Judith Hartmann provided essential input for key strategic milestones in Bertelsmann's transformation into a faster-growing, more digital and more international company," said Christoph Mohn, chairman of Bertelsmann's Supervisory Board.

Mr. Mohn said Ms. Hartmann had been instrumental in the placement of RTL Group shares, and initiated and advanced the Group-wide Operational Excellence program.

The Supervisory Board will decide on Ms. Hartmann's successor in due course, Bertelsmann said, and Chief Executive Thomas Rabe will take temporary responsibility for the financial department until then.

Bertelsmann also announced Friday that its Supervisory Board is appointing Immanuel Hermreck, 45, chief human resources officer. Mr. Hermreck has been executive vice president of human resources at Bertelsmann since 2006.

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