Kirch man to head new company

SEPTEMBER 10, 2001

Kirch man to head new company

DIETER HAHN, the man who has been doing all the negotiations between Kirch and the Formula 1 world has been named as the chairman of the new ProsiebenSat1 group, which will include Kirch. The new group will be listed on the Frankfurt Stock Exchange and, in effect, his appointment means that he is Leo Kirch's nominated successor. Kirch will retain an important shareholding in the new company (and will control most of the voting rights) but the actual business will be run by Hahn, in much the same way as the Formula One group of companies is being run by Bernie Ecclestone, despite being 75% owned by Kirch.

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