The media sector is currently facing a paradox. On the one hand, audiences have exploded as the population has a vital and legitimate need for information. On the other hand, advertising revenues, which are the main source of income for many media players, are experiencing a massive decline. Behind the scenes, professionals agree that media companies are currently providing a public service rather than serving any economic logic.

“Despite declining revenues, we continue to work to deliver independent and reliable information to our readers. Maison Moderne’s production is 100% teleworking from approximately 120 homes in four countries and has been since Friday, March 13,” said Richard Karacian, Maison Moderne’s associate CEO.

The organisation is also reinventing itself. “We are rethinking our offer and the role we want to play in the daily lives of our readers, members and customers. If the crisis has confronted us with many challenges, it is also, for example, a key moment in the acceleration of the digitalisation of the company,” said Mike Koedinger, founder and president of the company. “During this particularly difficult period, we must keep a cool head, accept the short-term consequences and imagine what the company will look like in two to three years. This is now an opportunity to create lasting value for the company.”

To succeed in this challenge, Maison Moderne is strengthening its leadership. Mike Koedinger, who retired from operational activities in 2017 to focus on the long-term development of the company, has today temporarily come aboard again to jointly steer the leadership of the company with CEO Richard Karacian. “During this crisis period, we need to leverage initiatives and make rapid changes to our offering to anticipate our readers’ expectations and our customers’ needs and to align our value proposition with current circumstances,” said Koedinger, who becomes executive chairman.

As the term of office of the current board of directors ends next month, the company has also announced the composition of its future board of directors, which will continue to be chaired by Mike Koedinger.

Three experienced administrators and entrepreneurs join Maison Moderne. Among them is Marie-Jeanne Chèvremont-Lorenzini, independent consultant and administrator, former managing partner of PwC Luxembourg. Also joining the board is Pascale Kauffman, a graduate in journalism and communication (ULB), who now heads Apollo Strategists, the PR agency she founded in 2012, after starting her career with the satellite operator SES and becoming head of communications at the City of Luxembourg in 2007. The third independent director is Daniel Schneider, a multi-entrepreneur, who began his career in the financial sector in London and New York and who is now a partner at Tenzing Partners. He is an investor and independent director and has been a member of the board of directors of Maison Moderne since 2014.

These three independent directors are joined by Maison Moderne founder Mike Koedinger, who will chair the board, for a period of three years starting in May 2020.

Entrepreneur Jean-Claude Bintz has stepped down from the board of directors. He had been associated with the company since its beginnings twenty-six years ago until he became chairman of the board in 2014. He contributed significantly to the success of the independent publisher through his experience and expertise in entrepreneurship, media and people management.