Jason Flom, ousted from Warner Music Group’s Atlantic Records just two months ago, is expected to take over Matt Serletic’s chairman-CEO post at Virgin Records in the U.S.
Serletic stepped down late Tuesday, ending a bumpy 3½-year run that included a dramatic downsizing of the EMI-owned label and generally disappointing results from a number of superstar artists, among them Lenny Kravitz, Janet Jackson and the Rolling Stones.
Serletic, a producer who had a small label distributed by Arista in the late 1990s, took the Virgin post after generating hits for matchbox twenty and producing “Smooth” for Santana.
During his tenure, Virgin has had hits with Stacie Orrico and Fountains of Wayne. EMI recently inked a deal with Korn to create a partnership in touring, publishing and merchandising; the band’s first album for Virgin is expected later this year.
David Munns, chairman-CEO of EMI Music North America, will assume leadership of the label on an interim basis. Speculation is rampant that Flom will take the reins before the end of the month.
“Matt is one of the most gifted producers in the business today,” said Munns. “He’s done a tremendous amount in the first phase of reinventing Virgin.”
Since Flom ankled Atlantic, Virgin has been frequently mentioned as a possible landing spot for him. Intriguingly, Flom and Serletic both saw their values skyrocket a decade ago through their association with matchbox twenty. (Flom signed them to Atlantic.)
While at Lava and Atlantic, Flom inked Sugar Ray, Kid Rock, Tori Amos, Simple Plan and the Corrs.