Bertelsmann refuses discharge from former RTL boss at AGM

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Dhe surprised farewell of RTL CEO Bert Habets just four weeks ago has an unusual sequel. The media group and RTL majority shareholder Bertelsmann refused the manager at the general meeting on Friday in Luxembourg, the usual discharge for the past year, as shown by a statement from the European television group. There are still issues that are not expected to have significant financial consequences.

The shareholders' meeting had released all board members except Habets for their work in 2018, said the RTL Group. This decision was unanimous according to a spokesman. In the original draft resolution, discharge was still planned for the entire top management. Bertelsmann holds 75.1 percent of the listed TV group, the rest is in free float.

On the background of the unusual refusal of confidence RTL expressed only vague. "The decision of the Annual General Meeting not to grant discharge to Bert Habets is based on certain matters which are still under consideration", the statement said. "Based on current information, these matters are not expected to have a significant financial impact on the Group." RTL and Bertelsmann spokespersons did not comment.

Habets had surprisingly left RTL after only two years at the top in early April. Bertelsmann boss Thomas Rabe, who took over the RTL head post in personal union, had called for the farewell of the Dutch family reasons. Nothing in the corporate strategy will change.

. [TagsToTranslate] ISIN_LU0061462528

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