ProSiebenSat.1 has announced a contract extension for its Group Chief Financial Officer (CFO), Martin Mildner, until May 2029. The Supervisory Board's decision, revealed on September 1st, secures Mildner's leadership for another three years. Since joining in 2023, Mildner, 55, has significantly improved the company's financial standing through effective cost management, debt reduction, and strategic divestments, notably the sale of Verivox.
“His deep expertise in both financial management and M&A provides a solid foundation for ProSiebenSat.1’s strategic transformation,” stated Supervisory Board chairwoman Maria Kyriacou. Chief executive Bert Habets praised Mildner’s crucial role in guiding the company through the media industry's significant restructuring. Mildner himself highlighted the importance of continuity during this crucial period, emphasizing his commitment to collaboration with MFE to maximize synergies from their strategic partnership. “I will pay particular attention to intensive cooperation with MFE to realise synergies together and make optimal use of our strategic partnership,” he stated.
This contract extension is particularly significant given recent developments. PPF's sale of its ProSiebenSat.1 stake allows MFE-MediaForEurope to gain majority control. MFE, already the largest shareholder, has long advocated for a stronger pan-European media group to compete with major US streaming platforms. By retaining Mildner, ProSiebenSat.1 assures investors and regulators of its commitment to stability during integration with MFE.
Analysts highlight the critical need for financial stability as the company aims to realize synergies with its Italian counterpart and maintain its focus on entertainment and digital platforms. Prior to joining ProSiebenSat.1, Mildner served as CFO of United Internet, overseeing the IONOS IPO, and spent over a decade at the Otto Group. His background includes legal and tax advisory experience at KPMG and Heuking Kühn Lüer Wojtek.