Axel Springer announced it has completed a financial transaction to increase its ownership position from majority shareholder in Morning Brew Inc. to sole owner.
As part of this transition, Morning Brew Inc. announced that its co-founder and CEO Austin Rief would step down as CEO and transition to a new role as Executive Chairman of the company where he will continue to help guide the business through its next stage of growth as a trusted partner and advisor to the leadership team.
Robert Dippell, who previously held the role of CRO/COO at the company, has been named CEO effective immediately. Since joining Morning Brew Inc., Robert has been influential in improving the operations of the business – overseeing key departments such as finance, product, revenue, B2B editorial, and audience growth.
Devin Emery has also been elevated to President from his previous role as Chief Content Officer.
In the 10 years since Austin and Alex founded Morning Brew as undergraduates at the University of Michigan, what began as a single newsletter to educate their friends on the latest business news has grown into a diversified, successful business publication and digital media company.
“Under Austin’s leadership as CEO, the company has shown impressive growth and has implemented the kind of disruptive, forward-thinking ideas required to succeed in today’s media landscape,” said Mathias Döpfner, CEO Axel Springer.
“We are incredibly proud of what Austin has accomplished and grateful for his collaboration and dedication. We are also thrilled that Morning Brew’s next chapter will be led by Robert Dippell, whose strategic vision and leadership have been instrumental in driving growth and value for the company during his tenure, and we’re looking forward to building Morning Brew together with this exceptional team.”
Over the past five years, Morning Brew Inc. has successfully transitioned from a 50-person, fast-growing media start-up focused mostly on a singular newsletter that helped define the newsletter industry overall, to a multi-channel content business with 20 different franchises and sustainable growth through new B2B ad products, events, consumer podcasts, and social video.
This sole ownership position furthers Axel Springer’s ambitions for strategic expansion into the American news business and investment in pioneering digital media companies.