John Kennedy to step down as Chairman and CEO of IFPI
24th June 2010
IFPI and John Kennedy today announced that, after more than five years in the role, John Kennedy will be stepping down as Chairman and CEO of IFPI.
John Kennedy said: "I leave behind a fabulous team at IFPI well qualified to deal with the many and complex issues the recording industry has to deal with."
Lucian Grainge, Chairman and CEO of Universal Music Group International, said: "We owe John an enormous amount of respect and gratitude. He has been our most determined articulate ambassador and someone who has fought effectively and tenaciously for this industry's issues. He understands how and why we invest in talent and has worked tirelessly to show why that matters."
John Reid, CEO, Warner Music Europe and Vice Chairman, Warner Music International, said: "Under John's stewardship, IFPI has helped us to navigate one of the most challenging and transformational periods in our industry's history. He has worked extremely hard to reshape attitudes towards the value of music and creativity the world over and to preserve a rich, vibrant and diverse global music scene. We're very grateful to John for his thoughtful leadership and wish him every success in his future endeavours."
Filippo Sugar, President of Sugar Music SpA, said: "John has been a fantastic champion of the music industry in the most difficult times we have ever known. I know I speak for many IFPI members around the world, indies and majors, when I pay tribute to the way he has led IFPI, campaigned against piracy and battled for our business on all fronts."
John Kennedy added: "It has been a fascinating, enjoyable and challenging role over the last few years and I believe we have achieved a great deal but I now intend to return to a more commercial role. I am pleased to be able to look at a number of successes in what continues of course to be a difficult environment for the music industry:
The concept of graduated response is now being enacted by many governments and considered by more - a far cry from the reception I got when I suggested this idea to the ISPs many years ago in Brussels.
Over the last few years IFPI has been very focused on driving growth of collecting society income and the figures speak for themselves. Over the last five years global broadcasting and public performance revenues for recordings have grown by 270 million dollars an increase of 42%.
A broadcast right in the USA is hopefully within our grasp and in China a broadcast and public performance right should become a reality over the next few years.
In spite of the challenges the industry faces we have built a 4.3 billion dollar digital business representing more than twenty five per cent (25%) of global revenues. Furthermore in 2009 13 markets around the world returned to growth.
Tremendous progress has been made on the campaign to extend the copyright term, though the task is not yet complete.
It's also wonderful to see the success of the industry against Limewire.
"I am now going to pursue a plan I had before I was asked to take on this role - I am going to start a business management/agency business representing talent in the world of music, film, sport, TV and theatre. Artistic talent is of course at the heart of the music industry and I am looking forward to enjoying the commercial environment that this new venture will be operating in.
"Even in these difficult times for the music industry it's important to remember that more music is being consumed than ever before and that the music industry is the engine that drives other industries with annual revenues far in excess of 140 billion dollars.
"Frances Moore will be the perfect successor to me at IFPI, and she is uniquely qualified to make a success of her new role (see separate announcement).
"I wish IFPI continued success in assisting the recording industry with the ongoing challenges. It has been a privilege to serve as IFPI's Chairman and CEO.
"I promise not to mention piracy for a while! "
For further information contact:
Alex Jacob, IFPI London
Tel: +44 (0)20 7878 7935 (Press Office)