Axel Springer Overhauls Supervisory Board as It Completes Split
The Axel Springer headquarters in Berlin.
Photographer: Odd Andersen/AFP/Getty ImagesAxel Springer SE will overhaul its supervisory board and appoint a new chairman following its completion of a deal to spin off its classified ads business.
Axel Springer’s board will be reduced to three from nine, with Jan Bayer, the media company’s deputy chief executive officer, replacing Ralph Büchi as chair effective Aug. 1, according to the statement on Tuesday. The other two board members will be Friede Springer, the widow of the company’s founder, and Johannes Huth, former chairman of KKR EMEA.