Global law firm Freshfields advised the supervisory board of SDAX-listed ProSiebenSat.1 Media SE on a comprehensive personnel restructuring of its executive board. This included the complete replacement of the previous three Executive Board members, as well as the appointment process for the new composition of the executive board with a new Chief Executive Officer and Chief Financial Officer.

The former executive board members Bert Habets, Martin Mildner, and Markus Breitenecker resigned from their executive board positions today, 21 October 2025, with immediate effect and in best mutual agreement with ProSiebenSat.1. Mr. Habets will provide advisory support to the company until the end of the year to ensure a seamless transition. Concurrently, ProSiebenSat.1’s supervisory board appointed two new members to the executive board with immediate effect: Marco Giordani, previously Chief Financial Officer of the majority shareholder MFE-MEDIAFOREUROPE N.V., will assume the position of Chief Executive Officer. Bob Rajan, Managing Director at Alvarez & Marsal, was appointed Chief Financial Officer on an interim basis. The position of Chief Operating Officer will not be re-filled.

Freshfields’ advice encompassed assisting the supervisory board on all corporate, capital markets, and employment law matters, as well as communication issues related to the executive board’s restructuring. This included, in particular, the legal structuring of the amicable termination agreements for the departing executive board members, the negotiation and drafting of the new employment contracts, and support for the appointments.

The cross-practice Freshfields team was led by Christoph H. Seibt (Lead, Corporate/M&A, Hamburg) and further included Partner Judith Römer (Employment Law, Hamburg) as well as Associates Laura Schaumann (Employment Law, Düsseldorf), Martin Leclerc Bialluch and Melanie Jacobi (both Corporate/M&A, Hamburg).

Freshfields had previously advised the supervisory board of ProSiebenSat.1 extensively in the context of the public takeover offer by MFE in a complex situation involving a competing partial offer from PPF IM LTD, including the preparation of the reasoned statement under the German Takeover Act (WpÜG).