Thomson Financial reports that Bertelsmann AG said it is reorganizing its Direct Group by splitting it into two — one comprising Europe and Asia while another would handle the North American business. Fernando Carro was named as CEO of Direct Group, which will handle the operations in Europe and Asia, while Direct Group North America will operate under the name of Bertelsmann Direct North America and will continue to have Stuart Goldfarb as its President and CEO.
The company said there are ‘good growth opportunities for Direct Group, especially in eastern Europe and Asia’ and that its new structure will ‘allow for an even closer strategic interlinking of club, bookselling and Internet activities’.