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"Rolf has impressively proven his flair for both the creative and economic aspects of success in the music business—and under the most difficult of market conditions—at the helm of the Bertelsmann Music Group."
PERSONAL MESSAGES FROM THE DESKS OF GUNTER, ROLF AND ANDY
Internal Memos from Bertie Head, Newly Appointed SBMG Chief and Chairman Reveal a Warmer, Fuzzier Side of Company Leadership
Dear Colleagues,

I am pleased to inform you that Rolf Schmidt-Holtz, a member of the Bertelsmann AG Executive Board and our Chief Creative Officer, today has been named the new Chief Executive Officer (CEO) of Sony BMG Music Entertainment.

Upon this appointment, he is resigning from the Bertelsmann AG Executive Board effective immediately—a requirement in the joint venture contract with Sony which stipulates that the CEO of Sony BMG may not hold any seats on the shareholders' boards. Rolf's corporate responsibilities will be redistributed among the other members of the Bertelsmann AG Executive Board: Thomas Rabe, Chief Financial Officer, will take over the leadership of Bertelsmann's BMG division, which comprises the 50 percent stake in Sony BMG and BMG Music Publishing, which we wholly own. Ralf Schremper, head of the Hamburg-based Bertelsmann Corporate Network (BCN), will now report directly to me. I will jointly head the Corporate Development Committee with Thomas Rabe.

Sony BMG is gaining a media executive who is as experienced as he is successful. Rolf has impressively proven his flair for both the creative and economic aspects of success in the music business—and under the most difficult of market conditions—at the helm of the Bertelsmann Music Group. His counsel, creative contribution, and entrepreneurial expertise have been invaluable to all of us on the Bertelsmann Executive Board. On behalf of my fellow Executive Board members, I would like to express my enormous thanks and appreciation to Rolf for his outstanding achievements and contributions to our management team. I wish him continued success in his new role.

Yours,
Gunter Thielen

Today I am happy to announce that I have accepted the position of CEO of Sony BMG Music Entertainment. The new management structure was reached amicably with the full support of the Board and the parent companies. I look forward to working together with you to continue to recognize the full potential of the joint venture.  I am also grateful to have the support of Andy Lack in his new role as Chairman of the Board.

With today’s announcement, we open a new chapter in our company’s short history. I realize that the integration exercise of 2005 was difficult for the entire organization, and I would like to thank each and every one of you for your contribution to the process.

The strategic objective behind the formation of the company has never wavered. Our commitment to the artists as well as employees remains one of the guiding principles of the organization.

We are off to a great start in 2006, and great opportunities lie ahead. However, the true measure of success will be that we achieve these goals together.

Warm regards,
Rolf

Dear Colleagues:

We had one heck of a Grammy night—taking home a total of 22 awards. Congratulations to us all and take a minute to celebrate the talent, strength, and determination you brought to this achievement.

I could not be happier or more proud as I welcome Rolf Schmidt-Holtz to be our new CEO. He will do a terrific job, I have no doubt, and he has all my support and encouragement going forward.

While we have tremendous challenges in front of us, both as a company and an industry, I'm so excited about our future.  I am privileged to take on the role as Chairman of the Board and continue creating with you the best music company in the world.

Have a great weekend.

Cheers,
Andy

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