Hertha BSC, the Bundesliga club, has changed the composition of its Supervisory Board and Advisory Board following the entry of 777 Partners, the 100 million investors. According to BILD, the Supervisory Board has reduced from nine members to five, with 777 founders Joshua Wander and Steve Pasko joining the board. Marius Freiherr Marshal von Bieberstein has been appointed as the new chairman. Previous members Weberbank boss Klaus Siegers and Sparda Bank boss Frank Kohler will remain. Additionally, Georg Kofler, Tarek Malak, and Thomas Werlen will leave the board.
Furthermore, there have been changes to the advisory board with two members, Thomas Traboulsi and Stefan Kindler dismissed with immediate effect. These two were former confidants of ex-investor Lars Windhorst. Markus Hunold, a financial expert, and multi-club network City Group’s former chief strategist, Don Dransfield, have now been added to the advisory board.
Interestingly, as per sources, 777 has taken over 78.8 percent of Hertha shares in addition to the 64.7 percent already acquired by Windhorst. The German club had been struggling for survival before the entry of these investors. The entry of 100 million euros will provide a much-needed financial boost to the club, and with the new appointments, Hertha will now have a more diverse group of opinionated experts on the KGaA supervisory board and advisory board.
Meanwhile, 777 founder Joshua Wander has claimed that their intention is not to act imperatively but in an advisory capacity. These changes indicate a significant shakeup for the Berlin-based club with eight departures and four new members.
