Bertelsmann names new CEO for CDnow

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Bertelsmann eCommerce Group, a division of European media giant Bertelsmann, has named Michael Krupit, president-CEO of CDnow. BeCG acquired music e-tailer CDnow earlier this year an an all-cash deal valued at $117 million. Mr. Krupit, who was formerly chief operatating officer of CDnow, succeeds Jasin Olim, who becomes chairman and senior advisor for Music Strategy for BeCG, which was formed in June to oversee all of Bertelsmann's e-commerce companies, including,, CDnow and the Bertelsmann Broadband group.

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