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Bosch taps Tillmann Olsen as CFO; Karin Gilges resign
Olsen takes charge from June as Karin Gilges exits for overseas Bosch role
GERMANY: Bosch Limited’s Karin Gilges has resigned as chief financial officer and alternate director, effective at the close of business on 31 May 2026. Her exit is linked to a new global assignment within the Bosch Group outside India, the company clarified.
Tillmann Olsen will step into the role of CFO and key managerial personnel from 1 June 2026, subject to regulatory approvals.
Gilges, who took charge in May 2022, was credited by the board for her contribution to governance and growth during her tenure. She has committed to ensuring a smooth transition before taking up her international role.
Olsen brings more than two decades of experience within the Bosch ecosystem. He is currently executive vice-president at Bosch Rexroth AG in Germany, where he leads a business unit with over 1,500 employees and annual sales exceeding €400 million.
Earlier, he served as regional president for Bosch Rexroth Africa and chief executive of the South Africa group, overseeing operations across 15 companies and delivering a compound annual growth rate of more than 8 per cent. His previous stints include turnaround roles in France and the creation of a sourcing organisation in China spanning Hong Kong, Shanghai and Beijing.
With a track record in mergers, acquisitions and restructuring, including a global inventory reduction programme that unlocked over €500 million in free cash, Olsen is expected to bring a steady hand to Bosch’s finance function as it navigates its next phase.
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UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
