UPDATE: Georg Kofler, the charismatic CEO of German pay-TV platform Premiere, is to leave the pay-TV company on August 31, 2007. Premiere confirmed that Kofler had asked the supervisory board for an early release from his contract with an agreement being signed yesterday (August 12).
Dr Kofler said Premiere was now entering a new phase, following the recent Bundesliga agreement with Premiere, and it was an appropriate time to leave. “We are expecting contract periods up to 2012 or longer, accordingly strategic and operating decisions have to be taken on a long term view. Having evaluated these requirements, I have decided that I am not prepared to continue my responsibility as CEO for such a long time horizon.”
Last week, Kofler disposed of all of his 1.25% shareholding in the company.
Chief financial officer and deputy CEO Michael Börnicke has been appointed the new CEO while deputy CFO Alexander Teschnerhas been appointed CFO.
47-year old Börnicke entered the TV business at ProSieben Television in January 1992 following a career at HypoVereinsbank in Munich. Together with Kofler he saw the transition of ProSieben into Germany’s most profitable TV company. The two took the company public in July 1997, a feat they were to repeat at Premiere in March 2005, having both joined the pay-TV company in January 1998.
