Munich - Guillaume de Posch, the chief executive at the biggest of Germany's four main television groups, ProSiebenSat. 1, resigned Tuesday in an unexpected move that sent the group's shares lower.
The group is controlled by two private-equity investment companies, KKR (Kohlberg Kravis Roberts) and Permira, and has 3.5 billion euros (5.4 billion dollars) in debt after its takeover last year of Swedish based TV group SBS.
ProSiebenSat. 1 said de Posch was leaving at his own wish, effective at the end of this year, as it was the right time to move on, but gave no reason for his departure. He has run the group for the past four years.