Former Paramount Group exec pledges to ‘accelerate transformation journey’ at German giant
Former ITV Studios and Paramount Group exec Maria Kyriacou has been cemented as chair of German giant ProSiebenSat.1’s supervisory board.
Kyriacou, who stepped down as president of broadcast and studios at Paramount last year, was nominated to succeed Dr. Andreas Wiele last month. Today, she was elected with an approval rate of more than 98 percent at the group’s AGM.
The German broadcast giant has had some rocky years against the backdrop of an ailing local ad market. Earlier this month, the Munich-based company revealed it would cut around 430 jobs – 6% of its workforce – amid what its chief exec Bert Habets has described as a “very challenging” economic environment and a push towards “digital transformation”.
Kyriacou’s appointment marks her return to the streaming business, having previously held senior roles including president international at ITV Studios and senior vice president of digital media distribution at Disney.
She also currently serves as a non-executive director at UK-based events firm Informa and has previously held board positions at Wizz Air and Fat Face Group.
Kyriacou said: “Working closely with the supervisory board and the executive board, my ambition is to accelerate our transformation journey, provide fresh momentum, and contribute the perspective I’ve gained through my international career. The company has a clear strategy, with a strong focus on its core business entertainment, putting [streaming service] Joyn at the centre of this strategy.
“ProSiebenSat.1 can inspire, inform, as well as entertain – and I am excited to help seize these opportunities together.”
Habets said: “I am very much looking forward to working with Maria Kyriacou. She brings nearly 30 years of leadership experience in the global media industry, with deep expertise in strategy, operations, and finance. With her drive and extensive expertise, she will be an excellent addition to the supervisory board and a strong support in its work.”
He added: “In the past year we have reached many important milestones for ProSiebenSat.1. We have laid a solid foundation to support the future growth of our entertainment business. Our challenges will remain big. But we have a clear strategy and will continue to deliver on executing it. I am confident that we are on the right track to achieving our goal: becoming the number one entertainment player in the German-speaking region.”
As well as confirming the reappointment of supervisory board members Dr. Katrin Burkhardt and Simone Scettri, whose terms had been up for regular re-election, shareholders also approved the distribution of a dividend of EUR 0.05 per eligible share for the financial year 2024, in line with the previous year.
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