German magazine publisher Hubert Burda to step aside for children

Hubert Burda, the 83-year-old head of the German publishing empire Burda Media, has announced he will step aside to allow his children to take over the company's management. This transition was revealed during the company's annual meeting in Munich. Burda Media, known for its diverse portfolio including magazines like Bunte and Focus, will see a new generation of leadership with his son Jacob, aged 52, and daughter Elisabeth, aged 49, taking on more significant roles. Jacob has been involved in the company's digital transformation, while Elisabeth has focused on the fashion and lifestyle sectors. Hubert Burda will remain as honorary chairman, ensuring a smooth transition while his children steer the company into the future.

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