Doug Morris: sudden departure from Universal
p2pnet news view Music:- Universal Music Group leader Doug Morris, pictured here with an unnamed friend, is on his way out.
“Sometime this summer, Universal intends to elevate its international chief Lucian Grainge to take over Morris’s CEO slot,” says BusinessWeek.
Interestingly, it was only last year that Morris signed a four-year contract extension.
Vivendi Universal is the biggest of the Big 4 recording industry dinosaurs which will rule the corporate music world, the others being EMI, Warner Music and Sony Music.
They’re slowly dying as the digital music era replaces the old physical one.
Details of Morris’ departure are still being organised, “according to those with knowledge of the arrangement,” but it’s being “portrayed internally” as an upward move for Grainge, 49, “who is highly regarded by executives at Universal’s Vivendi parent company,” says the story, adding:
“Morris will continue to work on key projects for Universal, but will turn over day-to-day operations. Morris expects to maintain his seat on the Vivendi management board, which includes top executives from the French conglomerate’s business units.”
He’s currently lining up advertisers for VEVO, an online ’service’ he dreamed up for streaming music videos on YouTube.
“Grainge, who became Universal’ international chairman in 2005, began in the music business as an A&R executive in 1978 for CBS Records, and rose through the ranks as at Polygram before becoming chairman of Universal’s British operation in 2001,” adds BusinessWeek.
First they ignore you, then they laugh at you, then they fight you, then you win ~ Mahatma Gandhi
BusinessWeek – Universal Music CEO Morris To Bring in Successor, November 2, 2009
Use free p2pnet newsfeeds for your site. It`s really easy!
Subscribe to p2pnet.net | | rss feed: http://p2pnet.net/p2p.rss | | Mobile – http://p2pnet.net/index-wml.php
Net access blocked by government restrictions? Use Psiphon from the Citizen Lab at the University of Toronto. Go here for details.
November 3rd, 2009 at 10:42 am
“Doug Morris, pictured here with an unnamed friend”
Thank you, Jon, for telling the truth. Other bastards will name the friend, which is not fair.
November 3rd, 2009 at 8:33 pm
Does Doug Morris believe he can save his live by resigning as the parasite in chief?