Hubert Burda Media has placed its search technology Cliqz (now Tailcat) and relevant development team in the U.S. company Brave Software.
Given the Group's growing internationalization and with the objective of establishing future-oriented management structures, Hubert Burda and his two children Jacob Burda and Elisabeth Furtwängler have entered into an agreement to restructure the Hubert Burda Media Group. In future, a European corporate entity (“SE”) will be responsible for managing the group. The SE will be led by an administra-tive board. Hubert Burda will retain the position of a general partner and continue to exercise the voting rights of his children on operational matters.
Within this new structure, Paul-Bernhard Kallen will remain the chief executive officer (CEO) in charge of operations. He will additionally chair the administrative board, which will also comprise the three shareholders Hubert Burda, Jacob Burda and Elisabeth Furtwängler. As in the past, the management board (“Vorstand”) will continue to be responsible for the operational management of the group.
This change will only concern the holding company; the other group companies will not be affected. The group will still be fully-owned by the family with Jacob Burda and Elisabeth Furtwängler each owning app. 37,5%, while approximately 25.1% rest with Hubert Burda.
“The introduction of an SE in the Group’s top holding company creates an excellent solution for the future,” Hubert Burda explained. “With Paul-Bernhard Kallen at the helm, we have an entrepreneur who will ensure the requisite continuity while resolutely driving the transformation of our business. I am extremely pleased that we have been able to obtain this long-term commitment from him, thereby securing the stability we need for the decade ahead. I have the greatest confidence that my children one day will assume the reins of an excellently positioned, innovative and sustainable business.”