Hubert Burda, the revered figure behind Hubert Burda Media, is set to retire, handing over operational duties to his children, Elisabeth Burda Furtwängler and Jacob Burda. This significant transition will take effect on February 1, 2025, as announced by the company.
The media enterprise has been under the Burda family’s control since its inception in 1903 and includes well-known publications such as the magazine Bunte and the news journal Focus. The decision to pass the leadership onto the next generation marks not only continuity but also change within the organization.
Elisabeth Burda Furtwängler, 32, and Jacob Burda, 34, will oversee the familial media empire, maintaining the company’s 100% family ownership model. The shares are currently distributed with 37.5% held by each child and around 25.1% retained by Hubert Burda himself.
Hubert Burda expressed his gratitude for the opportunity to lead the company for over four decades and his commitment to ensuring its longevity. "The truly unique aspect of a family business is, it is never solely one’s own, but one is responsible for the next generation," he remarked. He added, "I am grateful to have taken over a healthy publishing house from my parents about 40 years ago and now to hand over a versatile media company to my children." This remark highlights Burda's perspective on legacy, emphasizing the responsibility of continuing the family tradition.
The children have been gradually stepping up to take on more significant roles within the company. Both have been part of the board since 2017 and were officially shareholders starting in 2010. This planned transition has been hinted at, especially with the active involvement of Elisabeth and Jacob over the past summer.
Elisabeth shared her vision for the company: "We have consciously decided to take on this entrepreneurial task now at politically and economically challenging times, to continue the transformation of our family business – aware of tradition and open to the new." This statement reflects the balancing act of honoring the company’s storied past, all the same as paving the way for necessary progress and modernization.
Jacob echoed this sentiment, saying, "It is a great honor and responsibility to carry on our father's legacy as the fourth generation." His words underline the weight of their new responsibilities not only toward their father but also toward the 10,000 employees and the wider community the company serves.
Hubert Burda's departure from the operational side of the business occurs conveniently before his 85th birthday, signaling both the closing of one chapter and the opening of another. He remains involved as the personally liable partner and honorary chairman of the holding, ensuring continuity and oversight during this transformative period.
The company’s board is also poised for change, with Paul-Bernhard Kallen exiting after decades of service. Olaf Koch, previously the CEO of Metro AG, will assume the board chair position effective February 1, 2025. Andreas Rittstieg will serve as vice-chair, and the board will welcome Ulrike Handel, who brings her significant experience from Axel Springer to the team.
With over 2.8 billion euros in annual revenue, Hubert Burda Media stands as a significant player within the media industry, and this generational shift aims at providing both stability and innovation. The Burda family’s firm belief is to adapt to the changing media environment, ensuring their content remains relevant and impactful.
The emphasis on maintaining family control within the business speaks volumes about their strategic approach to management and decision-making, particularly as the media industry experiences shifts and challenges across digital platforms.
Through these transitions, Hubert Burda reflects on the family-oriented philosophy of their operations. The future seems bright under the direction of the fourth generation, with ambitious plans laid down by Elisabeth and Jacob as they embrace the challenges of modern media.
Hubert Burda Media, historically known for upholding journalistic standards and making strides through print and digital formats alike, now stands at the doors of its next significant era, centered around family values and strategic innovation.
