DEAG extends Executive Board and plans sales revenues of more than EUR 250 million in the mid term

• Detlef Kornett appointed as Member of the Executive Board in charge of marketing and the international business
• Corporate growth to be pushed across the board
• Moritz Schwenkow becomes Vice President in charge of the “local business”

Berlin, November 08, 2013 – DEAG Deutsche Entertainment AG (ISIN DE000A0Z23G6) extends its Executive Board in line with the company’s dynamic growth. The Supervisory Board has appointed Detlef Kornett (50) as an additional member of the Executive Board of DEAG effective January 01, 2014. On the Executive Board he will act as CMO (Chief Marketing Officer) in charge of all marketing initiatives of the company anywhere, push the digital strategy and furthermore will be responsible for the international business of DEAG, in particular in the United Kingdom, in Switzerland and Austria. Moreover, Moritz Schwenkow becomes Vice President of DEAG in charge of the local business in Hamburg, Berlin, Rhine-Main, North Rhine-Westphalia and Munich.

The reinforcement of the top management of DEAG takes place after DEAG has more than doubled its sales revenues during the past five years and multiplied its corporate result. In this connection DEAG has considerably extended the value creation components of the company’s business and was able to realize a considerable potential that effected positively the net consolidated result. The enlarged management team targets the core markets of DEAG in Germany, the United Kingdom, in Switzerland and Austria. DEAG plans further growth both as a promoter and as an operator of venues in these markets. Apart from the successful segments Rock/Pop, Classics and German Rock/Pop, Family Entertainment is becoming increasingly important. With the comprehensive coverage of the value chain within the scope of the 360 degree approach, DEAG will focus its activities during the coming years on the digital strategy, ticketing and stepping up the efforts building a Customer Relationship Management (CRM). DEAG pursues the goal of growing its sales revenues to more than EUR 250 million p.a. and achieving at the same time an above-average increase in the consolidated result during the coming years.

With Detlef Kornett one of the most experienced international managers in the field of Life Entertainment, with a special competency in respect of venues, is appointed as an additional member of the Executive Board of DEAG. He managed the European activities of the Anschutz Entertainment Group (AEG), one of the world’s leading life entertainment companies with many own venues, for more than 10 years. Kornett was also in charge of the acquisition and building of leading international event arenas such as the “The O2” in London and the “O2 World” in Berlin and Hamburg. For Red Bull GmbH Kornett was in charge of the general management and marketing of international sports projects on three continents. Since 2012 Detlef Kornett has been running, together with DEAG, the consulting company Verescon AG, of which he will remain the Executive Board Member. Verescon comprehensively consults with owners, operators, municipalities and corporate clients in the field of venues in terms of contents, new positioning, cost optimization and, more particularly, marketing. During the past years numerous consulting projects have been carried out for venues, amongst others, in Zurich, Vienna, Salzburg, Baku, Bern, Basel, London, Duisburg and Frankfurt.

Moritz Schwenkow (32) has held various management positions at DEAG since 2005. His special focus is on the local business of DEAG. He runs the corresponding affiliated companies in Hamburg and Berlin as managing director. Moreover, Moritz Schwenkow, who graduated in international management, has been Vice President Operations since 2011 with co-responsibility for sales and marketing, and has hence worked already closely with the COO.

On the Executive Board of DEAG, company founder, Professor Peter L.H. Schwenkow, continues to act as CEO and Christian Diekmann remains CFO and COO.

DEAG Deutsche Entertainment AG
The Executive Board

DEAG Deutsche Entertainment AG is a leading provider of live entertainment and the largest organizer of high-margin classical events in Europe. Founded in 1978 and stock-listed since 1998, the company draws on 30+ years of experience.

With group companies in Germany, the UK and Switzerland, DEAG stages 1,500+ events and sells 3.5 m tickets per year in the fields of family entertainment, rock/pop, classical and German music. The company also operates venues in Frankfurt/M, Stuttgart and Zurich.

In the concert business, DEAG acts as both tour organizer and local promoter, ensuring additional risk diversification through its broad positioning. During recent years, DEAG continuously enhanced its value chain by implementing a comprehensive “360-Degree Approach.” With its own music label DEAG Music and a wide range of activities in publishing rights, live recording, sponsoring, merchandise, ticketing etc and powerful partners such as Sony Music Entertainment, Ticketmaster, Ringier AG et al, DEAG is perfectly positioned as an integrated and highly synergistic international Entertainment Content Company.

Contact for further information:
Axel Mühlhaus
edicto GmbH
Eschersheimer Landstraße 42
60322 Frankfurt am Main
Tel: +49-69-90 550 552
Email: deag@edicto.de

This release was published on openPR.