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Leadership
EMI CEO departs after less than two years on the job
10.03.2010
The CEO of the debt-laden music label EMI is leaving the group at the end of this month after less than two years in the top role.
EMI announced Elio Leoni-Sceti’s impending departure today, and also said that Charles Allen, its current non-executive chairman and a former CEO of ITV, will become executive chairman.
“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,” Allen said.
The news forms the latest twist in the survival saga which now surrounds EMI. The once successful music label has fallen into debt due to a 2007 takeover by Guy Hands’ private-equity group Terra Firma, which was largely financed with loans from Citigroup.
As record sales continue to plummet, Terra Firma is struggling to prevent EMI from defaulting on debts of some £3.3bn.
Hands is also now suing Citigroup, arguing that the bank tricked him into buying EMI.
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Leadership Magazines
Irish Director
Irish Director is the definitive magazine for leaders and senior decision makers in Ireland. Produced in association more..
Owner Manager
Owner Manager is the latest title from the BusinessandLeadership.com stable. It is the only magazine in Ireland to more..
Marketing Age
Marketing Age is the definitive voice of the marketing industry in Ireland. Aimed at decision makers, marketing more..
Knowledge Ireland
Knowledge Ireland is a ground-breaking quarterly magazine from our sister brand siliconrepublic.com, unique in its more..
Irish Director is Ireland’s leading senior management magazine. Designed for business leaders and decision makers across the island, it covers topics of specific relevance to Ireland’s senior directors.
Owner Manager is the latest title from the BusinessandLeadership.com stable. It focuses specifically on the needs of the business owner, offering both strategic and practical features and information related to running your own business.
Marketing Age is the definitive ‘voice’ of the marketing industry in Ireland. Aimed at decision makers, marketing directors and industry professionals, it deals in-depth with marketing strategy, innovation and the world of new media.
Knowledge Ireland is a ground-breaking bi-monthly magazine from our sister brand siliconrepublic.com, unique in its exploration of strategy and innovation through people and technology.
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