The uncertainties in the editorial offices at Gruner + Jahr are enormous these days. After RTL and Bertelsmann announced that at least 700 jobs at the magazine publisher in Hamburg would be cut last week, many permanent and freelancers fear for their jobs. It is still unclear in which departments and editorial departments how many jobs are to be cut. Now there is at least one first important personnel decision: the business magazine capital gets a new editor-in-chief.
Timo Pache will take over as editor-in-chief from Wednesday. Pache has been with the publishing house since 2004: he worked at the Financial Times Germany started and after they ended in 2013 capital changed. He has been Deputy Editor-in-Chief since 2015. He is now taking over the management from Horst von Buttlar, who had already resigned in advance of the clear-cutting and will be the editor-in-chief of March 1st business week starts in Dusseldorf.
Timo Pache is expected to take on his new role starReport boss Gregor Peter Schmitz, RTL reports. Schmitz becomes chairman of the joint editor-in-chief of the brands star, capital and Geo. According to the plans of RTL and Bertelsmann, all three titles will be retained as independent magazines, but at the same time the editors of capital and Geo but the online offer star+ supply with knowledge and economic contributions. And on top of that, the magazine brands will be combined with the editorial staff of RTL News. However, how this complete journalistic merger can succeed has not yet been clarified.