Report: EMI's Executive Group May Not Gain More Music Experience
The Financial Times has reported that Terra Firma is considering Elio Leoni Sceti, whose tenure with consumer products company Reckitt Benckiser was preceded by a stint at Proctor & Gamble, to run EMI's recorded music division. Mr. Sceti's appointment would mean Terra Firma would place chiefs at both the recorded music and publishing divisions. One could interpret that move as a facilitator to merging EMI's recorded music division with that of Warner Music Group.
If there was any doubt Terra Firma has little faith in the culture of the music industry to lead EMI to profitable territory, look no further than the executive ranks that are filling up with industry outsiders. The implication is Terra Firma believes music executives as well as larger shifts in technology and listening habits are responsible for EMI's position. The company's org structure has been radically overhauled and a third of its employees are being dismissed this year. This strategy of large shocks to the system contrasts with that of EMI's competitors, who are this far hoping to ride out this period of uncertainty with smaller layoffs, fewer organizational changes, slight changes in licensing of product and the occasional acquisition that adds diversification.
[music jobs] Boosey & Hawkes is looking for a Royalty Tracker.

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