Christoph Mohn, Chairman of the Bertelsmann Supervisory Board, said: “The Supervisory Board regrets Fernando Carro’s departure and wishes him all the best in his personal and professional future. On behalf of the Supervisory Board, I would like to thank him for his 24 years of successful work for Bertelsmann in various management positions. Arvato’s four solution groups are well positioned for a successful development.”

Further to Carro’s departure, the reporting lines at Arvato will be redrawn: The CEOs of Arvato CRM and Arvato SCM, Andreas Krohn and Frank Schirrmeister, will report to Bertelsmann Chairman & CEO Thomas Rabe from now on; Krohn and Schirrmeister will remain members of the Bertelsmann Group Management Committee. The CEOs of Arvato Financial Solutions and Arvato Systems, Frank Kebsch and Matthias Moeller, report to Bertelsmann CFO Bernd Hirsch. The position of Arvato CEO, including a seat on the Bertelsmann Executive Board, will not be refilled. Rolf Hellermann will remain CFO of Arvato, and Thomas Mackenbrock remains Chief Strategy Officer (CSO). The nine-strong Arvato Board will thus consist of the three Bertelsmann Executive Board members Thomas Rabe (Chairman), Bernd Hirsch, and Chief HR Officer Immanuel Hermreck, who will oversee Arvato's HR work; the four Solution Group CEOs Andreas Krohn, Frank Schirrmeister, Frank Kebsch, and Matthias Moeller; and Rolf Hellermann and Thomas Mackenbrock.

Thomas Rabe, CEO of Bertelsmann, said: “Fernando Carro has made important contributions to the transformation of Bertelsmann over the past few years, most recently as CEO of Arvato, and prior to that in establishing Bertelsmann’s businesses in Brazil and Latin America, and in dismantling the club and direct-marketing businesses. On behalf of my colleagues, I would like to thank Fernando Carro for his achievements. We wish him every success in his next steps. At the same time, I look forward, together with my colleagues Bernd Hirsch and Immanuel Hermreck, to an even closer cooperation with the managers of Arvato’s various business units. Entrepreneurial thinking and short decision paths will shape this cooperation. Arvato plays a central role in the Bertelsmann strategy. Since 2012, we have invested around 1.5 billion euros in the Arvato business. The four Arvato solution groups are well positioned for further growth.”

Fernando Carro, Bertelsmann Executive Board member and CEO of Arvato, said: “I would like to thank the Supervisory Board and the members of the Management Board for their support and our trustful cooperation over the years. Bertelsmann is a fascinating company, in which I was privileged to tackle many entrepreneurial tasks over 24 years. My responsibilities as CEO of Arvato were truly exciting; the division is very well positioned and has excellent prospects. I sincerely wish Bertelsmann, Arvato and all our employees only the best for the future.”

Fernando Carro (52) has worked for Bertelsmann in various management functions since 1993. Since 2015, he has sat on the Bertelsmann Executive Board in his capacity as Arvato CEO, having earlier served as President of Latin America and Spain on the Bertelsmann Group Management Committee, where he supervised Bertelsmann’s operations on the Iberian Peninsula and expansion in the South American growth markets. He also oversaw Bertelsmann's club and direct-marketing businesses since 2007, serving as CEO of the Direct Group Bertelsmann division from 2007 to 2011. Carro studied business engineering at the Technical University of Karlsruhe after completing an apprenticeship as an industrial manager. He came to Bertelsmann through the Corporate Junior Executives Program. Just one year after joining the company, he was appointed Managing Director of the Etrasa academic publishing company in Madrid, and of Heinrich Vogel Verlag in Munich in 1998. In 1999, Carro was appointed to the Executive Board of Bertelsmann Springer before moving to Barcelona as Managing Director of Círculo de Lectores two years later. In 2005, he became a member of the Direct Group Executive Board, simultaneously taking the operational helm of Germany’s Der Club Bertelsmann as its CEO.