Mumbai: Dr. Bernd Kundrun, a member of the Bertelsmann AG executive board and Gruner + Jahr CEO, has notified the supervisory board of Bertelsmann AG that he has stepped down from the Bertelsmann executive board with immediate effect.

The Bertelsmann supervisory board has acknowledged Kundrun’s personal decision and will comment on it in due course.

Bertelsmann will continue to stand behind Gruner + Jahr as a majority shareholder and will continue to develop the magazine business, as in the past three decades, together with the Jahr family as G+J’s second shareholder.