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Bertelsmann to Revamp Book Division; U.S. Exec Promoted

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From Reuters

German media giant Bertelsmann said Thursday that it was reshuffling its book activities and appointing an American to its board in reaction to the rise of the Internet and the company’s increasingly international focus.

The new arrangement would bundle Bertelsmann’s publishing activities across Europe, the United States, Asia and Latin America in one division and gives its head a seat on the group’s board.

The restructuring was prompted by the 164-year-old German company becoming the world’s biggest seller of English-language books when it took over Random House Inc. in March 1998.

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Bertelsmann said Random House Chief Executive and Chairman Peter Olson will take the reins of the company’s publishing operations, which would make him the first American on the company’s board, when Frank Woessner, current head of its publishing and book sales operation, Bertelsmann Buch, retires.

“Bertelsmann is now among the most international of the media concerns,” the company said in a statement. “The addition of an American to the board is a logical conclusion of this development.”

Olson will take up the post April 1, 2001. Bertelsmann said Olson will be based in New York.

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