Charles Allen becomes Executive Chairman of EMI Music
10th March 2010
EMI Music announces the appointment of Charles Allen as its Executive Chairman. Charles has been non-executive Chairman of EMI Music since January 2009, chairing its Board and supporting the transformation of the business.
Elio Leoni-Sceti, EMI Music's Chief Executive, who has successfully led EMI Music through the first phase of its operational turnaround, will be leaving the company on March 31st 2010. Over the past two and a half years, EMI Music has become a stronger and growing company, with a talented senior team, significant creative success and a more rigorous approach to marketing and operations. This has resulted in increased sales, improved market share and industry-leading EBITDA margins.
Charles said: "Elio has done a great job. I have thoroughly enjoyed working with him; he is a very talented executive and we all wish him well in the future. Our goals for EMI Music remain the same. I will support and guide the group's strong team, keep EMI's focus on creativity and superb A&R, and deliver a digital platform. This is a great business - our task is to ensure it has a great future."
Elio added: "EMI is a wonderful business with a great team and new creative and operational momentum. My job here is now done and it is time for me to move on. It has been a pleasure to work with Charles and so many other talented and committed people. I look forward to seeing the company go on to further success in the future."
For further information contact:
Amanda Conroy, EMI Music
Tel: +44 20 7795 7529
Neil Bennett or James Devas, Maitland
Tel: +44 20 7379 5151