Haffa will sell his 25.1 percent of his 43 percent stake in EMTV to Werner Klatten who will succeed him at the head of the company. The CEO’s resignation follows on from the departure of his brother Florian from the post of finance director last year in the wake of EMTV’s issue of a steep profits warning.
Kirch Gruppe, which put forward a rescue deal for EMTV last year, has stated that it will not oppose the appointment of Klatten. The Kirch deal remains subject to approval by the German cartel authorities.
Cash-strapped German media giant EMTV has announced that its chief executive Thomas Haffa is to resign from the company he created in 1989.
