De Tavernost stepping down at M6 Group
February 14, 2024
From Pascale Paoli-Lebailly in Paris
Nicolas de Tavernost, the long-serving Chairman of the Executive board at M6 Group, announced his resignation on February 13th on the same day the RTL Group subsidiary posted a 2023 net profit up 45 per cent to €234.1 million. He will leave the French media group upon its annual general meeting on April 23rd 2024, before the end of his tenure in August 2025. He has been in the role since
David Larramendy, 49, currently head of M6 Publicité and a member of the board of directors, is set to succeed him.
“It is preferable to entrust the presidency of the group to a new generation who will have to carry out its transformation”, de Tavernost said. The 74 year-old, who contributed to M6’s creation back in 1986, will also leave Bertelsmann’s Group Management Committee (GMC) which he joined in 2011.
After the TF1-M6 merger collapse, M6 Group is seeking to accelerate its streaming activities and plans to launch a new platform called M6+ this March. The group aims to doubling streaming revenues as well as the number of views by 2028.
“A pioneer of European commercial television, Nicolas de Tavernost was a man of the first hour at M6 and has shaped the company like no other over more than 30 years. He made Groupe M6 one of the most successful media groups on the continent and also provided a lot of input at Bertelsmann” commented Thomas Rabe, chairman and CEO of Bertelsmann commented.
Elmar Heggen, Chairman of the Supervisory Board of the M6 Group, said: “On behalf of all shareholders, I would like to sincerely thank Nicolas de Tavernost for his outstanding achievements since the creation of M6 in 1987. With his strong leadership, business acumen and clear strategic vision, he has shaped the company from a small TV channel into one of the most profitable and diversified broadcasting groups in Europe. Nicolas de Tavernost is a truly exceptional entrepreneur and innovator, and the success story of M6 will forever be associated with him. Personally, I would like to thank him for our close and trustful collaboration over many years. With an ambitious expansion plan for the streaming service 6play and a highly profitable core business, Groupe M6 is well positioned for future growth. With David Larramendy, we have chosen a highly competent and experienced executive who has been with Groupe M6 for over 16 years. During this time he has achieved excellent results, particularly as Managing Director of M6 Publicité, the advertising sales house from Groupe M6. This internal handover is also testimony to the leadership and management qualities of Nicolas de Tavernost. I wish David Larramendy lots of success in his new position and Nicolas de Tavernost all the best for this future endeavours.”
De Tavernost added: “I would like to thank the shareholders and the Supervisory Board for the trust placed over all these years. The Group has extremely solid fundamentals, first and foremost its teams. The Group’s Appointments Committee proposed an internal succession solution in the person of David Larramendy, member of the Management Board in charge of commercial activities, thus prioritising the continuation of the Group’s culture. I am sure that David Larramendy will be able to meet the numerous challenges and continue on the path to success. The 2023 results prove the solidity of the Group, the development plan for digital activities illustrates its agility and the competence of the teams allows optimism for the future.”
Over 2023, M6 Group consolidated revenue established at €1.31 billion, down 3 per cent, mainly owing to a 2.2 per cent decrease in TV ad revenues to €905 million.