Universal Music Group has announced a restructuring plan of its label operations. The news was delivered via a staff memo from UMG Chairman/CEO Sir Lucian Grainge, and reported by Billboard.
Republic CEO Monte Lipman and Interscope Geffen A&M Chairman & CEO John Janick will hold key roles in the new strategic plan.
“John and Monte bring to UMG unique and complementary skills in how they lead their organizations and how they envision positioning them for success in the future,” wrote Grainge. “To accelerate those strategies and maximize their effect, today I am appointing Monte and John to lead a broader part of our U.S. recorded music business. Monte will continue to be based in New York and John in LA. Under this new operating model, Monte and John will support our label heads and help them build best-in-class teams — powered by the industry’s most accomplished and forward-looking people. John will provide our labels including Blue Note, Capitol, Geffen, Interscope, Motown, Priority and Verve with unparalleled support, while Monte will do so for Def Jam, Island, Mercury and Republic.”
Grainge continued, “In the coming weeks, John and Monte will be making further announcements about structure, resources and next-generation partnerships.”
Still developing…
