Management Shakeup at MTG Digital Businesses

STOCKHOLM: Modern Times Group (MTG) is shuffling some of its management, following its investment in a number of scale new digital ventures and reorganization into a country management structure over the past six months.

The MTGx core video-on-demand technical functions for both the Play and Viaplay services are being united under the leadership of Nordic digital streaming business Viaplay’s CEO Jonas Karlén, who will now report directly to Group CEO Jørgen Madsen Lindemann.

Arnd Benninghoff has headed up the group’s digital ventures since joining MTG in November 2014 from his role as chief digital officer of ProsiebenSat1, and will now become an MTG's executive VP as well as CEO of MTGx Ventures. Benninghoff will report to Mathias Hermansson, who returns to work on December 18 after his period of leave. Hermansson will take on the new role of executive chairman of MTGx Ventures and adviser to MTG’s president and CEO on a number of strategic projects. Maria Redin’s role as acting CFO is now made permanent, with immediate effect. Rikard Steiber, MTG's executive VP and chief digital officer, is exiting MTG.

Lindemann commented: “The group is transforming fast now and we have a scale and high growth digital business, with leadership in key complementary online video categories. MTGx has disrupted and catalyzed the organization as planned and we now have considerable momentum in the digitalization of our existing businesses and addition of new ones.

This strategic transformation of our business is a clear priority for MTG. Rikard’s job of creating MTGx and setting us on the transformation path is done, so he moves on with our thanks. Arnd’s job has just begun after acquiring some very exciting new brands and teams. He now steps up to become an executive VP and work closely with Mathias, who takes on a new role. MTGx Ventures will now accelerate the development of what we have, while also identifying and converting other complementary and attractive opportunities. And I am delighted that Maria now also steps up permanently to a role that she has made her own over the past six months.”