DEAG announces management handover

DEAG founder and CEO Peter Schwenkow has announced he is handing over operational management of DEAG to co-CEO Detlef Kornett.

Schwenkow, who will step back to an advisory role at the German-headquartered live entertainment firm, made the announcement today (23 March) during a reception for his 70th birthday held at Wintergarten Varieté in Berlin.

“After 46 years at the helm of the company I founded and in the best of health, I am announcing the long-prepared move to a new role,” said Schwenkow. “From 1 April 2024, I will assume the role of founder and senior advisor at DEAG and hand over responsibility as CEO.

“This step, on my 70th birthday, was planned for a long time and carefully prepared. The captain is leaving the bridge, but not the ship. I will continue to be part of the journey as an advisor to the company and – together with my son Moritz – as a major private shareholder in DEAG, in order to make my contribution to the company’s continued growth in the interests of all shareholders.”

He added: “Since 1978, we have continuously and successfully developed new products and markets with committed, loyal and creative partners and employees, without whom this growth would not have been possible. Today, with over 600 employees in seven countries at 22 locations, DEAG is one of the world’s leading live entertainment companies with continuous annual sales of over €300 million.

“Our permanent focus on our customers, artists and guests will continue to be the benchmark of our work in the future.”

“We are sure that – with your continued support – we can look forward to an exciting and prosperous future”

DEAG’s supervisory board paid tribute to Schwenkow for his decades of entrepreneurial work.

“You can be proud of your life’s work,” said supervisory board chair Wolf Gramatke. “And we are sure that – with your continued support – we can look forward to an exciting and prosperous future.”

Kornett, who has been a board member since 2014, was appointed co-CEO alongside Schwenkow last summer. He will be responsible for the firm’s continued growth, together with fellow board members Moritz Schwenkow, Christian Diekmann and David Reinecke, as well as SVPs Stuart Galbraith, Benedikt Alder, Jacqueline Zich and Oliver Hoppe.

Founded in Berlin in 1978, DEAG’s core markets are Germany, Great Britain, Switzerland, Ireland, Denmark and Spain.

Click here to read IQ‘s recent profile of Schwenkow, looking back on his 50 years in the business.

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