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Her longtime ally is Mr. He joined the company in and took over Die Welt in Springer made him the chief executive in , after she had waged a successful legal battle against challenges to her leadership by others in the Springer family. Under his leadership, Axel Springer has had elaborate holiday parties, including a disco night in that included 10 D. In , he dispatched members of the mostly male senior executive team to Silicon Valley, where they roomed together, made a study of the new media economy and produced a goofy video that showed them sharing king-size beds.
The goal was to transform Axel Springer into a global giant able to solve the riddle of how to profit from digital journalism. Early results were uneven, including investments in the recently troubled Ozy Media. Axel Springer consoled itself with the purchase of Business Insider, which has thrived under its ownership. And Mr. In , the American private equity firm KKR bought more than 40 percent of the company and took it private, an endorsement of Mr.
Last fall, Ms. Springer offered Mr. She then sold him a bit more, making him a billionaire and major shareholder. The shares came with the voting rights to her remaining stake, making it clear that the company is Mr. That is the backdrop for the dual dramas that consumed Axel Springer in The first was the investigation into Mr.
Reichelt, the editor who is also the face of a new television network Bild has started. Reichelt had created a hostile work environment for women; the publication did not report all the details of the claims. Young female employees were sometimes quickly promoted.
Their fall from grace was similarly rapid. His leave of absence lasted all of 12 days. Contrary to rumors reported in several media titles, there were no accusations of sexual harassment, and the investigations did not discover any evidence whatsoever of sexual harassment or coercion.
Reichelt said. She was given responsibility for personnel and the Sunday edition. Reichelt sued Der Spiegel in March, and won a minor legal victory forcing the publication to append a statement to its article acknowledging that Mr. In April , the business newspaper Handelsblatt was prepared to report on alleged conflicts of interest in Mr.
The article was killed after a call from Mr. Reichelt, a person involved in the process said. A Handelsblatt spokeswoman did not respond to an emailed inquiry. In the course of reporting, Ms. Then, on Friday, Ippen told its investigative unit that it was killing the story. The documents I saw paint a picture of a workplace culture that mixed sex, journalism and company cash. Reichelt had had relationships. That editor did not respond to an inquiry for this column; the woman whose testimony appears in the investigation report declined to comment, and The New York Times is not naming her because the interview transcript includes her request for anonymity.
Reichelt had provided a forged certificate showing that he was divorced to a woman who was working on contract with Axel Springer and with whom he was having a relationship. A copy of the phony divorce certificate was shared with me. I did not have access to the complete report by the lawyers who investigated Axel Springer, and the company declined to provide it.
To say that it does paints a false view of Axel Springer. This is no longer possible. With Johannes Boie we have a first-class successor. He has proven that he combines journalistic excellence with modern leadership.
The news comes as Axel Springer expands its presence in the US, having recently bought an ownership stake in news site Politico. The political site is the latest in a slew of US acquisitions for Axel Springer, which bought Business Insider now called Insider in and newsletter publisher Morning Brew last year. Young female employees were sometimes quickly promoted.
Their fall from grace was similarly rapid. Those who sleep with the boss get a better job. Reichelt, who was the editor and the face of a new TV network started by Bild, did not, as he feared, lose his job following the explosive report.
She was given responsibility for personnel and the Sunday edition. The Times said Axel Springer has tried to keep the details of the investigation out of the German press. But the Times said the article was killed after a call from Reichelt. Aside from the affair, documents painted a picture of a coverup culture at Bild, in which women who were involved with the editor in chief were often moved around to other departments.
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