Major Structual Shakeup, Exec Shuffle At UMG
LOS ANGELES (CelebrityAccess) — Universal Music Group has announced the formation of a new management board and a major revamp to the company's structure that the company hopes will expand their ability to break artists internationally.
The new configuration for the company will see the creation of an Executive Management Board comprised of key execs drawn from across UMG’s multiple business units and territories, and the reorganization of its international division into regionally focused hubs. UMG expects that their new hub system will allow them to leverage regional resources more effectively for marketing and artist development.
With the reorganization. UMG is also seeking to expand their footprint in emerging music markets, including Africa, India and China, with an eye towards building local repertoire and digital partnerships in those markets.
As part of the reorganization, Andrew Kronfeld has been promoted to Executive Vice President, Marketing for UMG and will be based at the Company’s Santa Monica headquarters. Previously, Kronfeld served as president of global marketing for UMG’s international division in London. In this new role, Kronfeld will work directly with UMG’s labels in managing artist repertoire across the new regional hub structure.
Michele Anthony, Executive Vice President of UMG, will take on oversight of UMG's Canadian operations led by Universal Music Canada president and CEO Jeffrey Remedios as well as the Company’s U.S. catalog division led by Universal Music Enterprises president and CEO Bruce Resnikoff.
Boyd Muir, in addition to his role as UMG’s Executive Vice President and Chief Financial Officer, will oversee Bravado, UMG's global merchandising company led by Tom Bennett and Eagle Rock, the UK-based producer and distributor of music programming led by Terry Shand.
Jeffrey Harleston, UMG's General Counsel and Executive Vice President of Business & Legal Affairs for North America will now also have purview over UMG's worldwide operations.
UMG's CEO Lucian Grainge also announced that the company has appointed Michael Nash as Executive Vice President of Digital Strategy.
“The new executive management board and structure will enable us to drive change throughout the organization, meet the individual market’s unique needs and serve as the most effective partner to artists in what is more than ever a truly global business. Most importantly, this new structure will be able to accelerate the careers of our artists, by providing them with focused teams that are entrepreneurial and innovative and have the ability to seamlessly tap into the resources of the entire company. This management team represents the best the music industry has to offer—a combination of deep creative, commercial, regional and industry expertise,” Grainge said in a press statement.
The shakeup at UMG comes just a week after Max Hole announced that he was stepping down from his role as chairman/CEO of Universal Music International due to health issues. – Staff Writers
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