Unzeitig exits Germany’s Kinowelt

Film group head Koelmel taking on CFO duties

BERLIN — Kinowelt Medien is bidding farewell to finance chief Eduard Unzeitig, the latest exec departure from the troubled German film group.

Company co-topper Michael Koelmel will for the time being take over CFO responsibilities.

Cash-strapped Kinowelt is in the midst of severe restructuring and on the lookout for potential investors, details of which are expected in the coming weeks. Both RTL Group and Kirch Group have reportedly been offered stakes in the company although interest in the producer-distrib is said to be low.

The company’s top management tier will also be reshuffled, according to Peter Bach, chairman of Kinowelt’s supervisory board.

Kinowelt declined to give a reason for Unzeitig’s departure, but said it was a mutual decision and that Unzeitung would remain a consultant to the company. Unzeitig joined Kinowelt in 1997.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety