Values
Values
Values
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
175 Years of Bertelsmann The Management | The Group | Divisions | Spirit | Financial Information 25<br />
Bertelsmann Annual Report 2009<br />
Letter from the CEO<br />
Executive Board<br />
Bertelsmann is celebrating its 175 th anniversary in 2010. Last year, as well as this year, will<br />
be remembered as an important period in our long and successful history. Th e year 2009<br />
saw two signifi cant watershed events for Bertelsmann. Th e fi rst was the death of Reinhard<br />
Mohn, our post-war founder and one of the great entrepreneurs of the 20 th century. The<br />
second was a global economic crisis of historic proportions. Th is year, too, is a milestone.<br />
As we celebrate “175 Years of Bertelsmann – Th e Legacy For Our Future,” we will focus on<br />
the future – the future of Bertelsmann, the future of media and services, and the future of<br />
one of the most exciting industries in the world.<br />
First, however, let us look back at the key business decisions and developments of the past<br />
year, as refl ected in the Annual Report 2009 you hold in your hands.<br />
Th e year 2009 was dominated by one word: crisis. Th e crisis aff ected all of us directly or<br />
indirectly, and was felt by our company as well. Bertelsmann has overcome this crisis. We<br />
used the decentralized power of our company to act quickly and consistently – each division<br />
and company in its own way. Once again, the entrepreneurs who make up Bertelsmann’s<br />
“company of entrepreneurs” acted decisively, aided by their close proximity to their markets<br />
and to their customers. This approach – identifying and meeting challenges, and transforming<br />
them into opportunities – has characterized the staff and executives at Bertelsmann<br />
for decades.<br />
Decentralization is an essential part of our culture, and together with the structure of our<br />
company, it forms the secret of our success. Th is approach has allowed us to fi nd many<br />
diff erent responses to the challenges of the past months, each of them tailored to the situation<br />
at hand.<br />
A Company of Entrepreneurs