EMI restructuring emphasizes A&R

Ernesto Schmitt named president of catalog

EMI is expected to announce yet another organizational restructuring Friday in conjunction with its announcement of an increase in revenue in the first six months of the year.

The company, which has been reshaped to emphasize Artists & Repertoire services, will be split into three groups — new music, catalogue and music services — according to a Financial Times report. EMI Music’s chief executive, Elio Leoni-Sceti, announced Thursday that Ernesto Schmitt, an executive with Europe’s second-largest consumer electronics retailer DSG, has been named president of catalog for EMI. He will join the company in December.

Leoni-Sceti will travel to EMI’s offices around the globe to explain the new set-up, beginning Friday at a meeting at the Shepherd’s Bush Empire club in London.

The FT reported that EMI had $91.7 million in earnings before interest, tax, depreciation and amortization between April 1 and Set. 30. Company’s recorded music sales fell 12% in the U.S. during the period.

New hire Schmitt succeeds Stephen Alexander, a Terra Firma managing director who has led the catalog division as its interim president since March.

At DSG Intl., which operates the Dixons, Currys and PC World stores, he was group development director, responsible for redesigning the company’s international marketing and advertising model and building new customer channels.

In 2001 and 2002 Schmitt was EMI Group’s senior VP of strategy and business development. Prior to that he founded Peoplesound.com, an Internet venture designed to help consumers discover music and to help music companies develop consumer insight.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Marketplace

    Leave a Reply

    No Comments

    Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

    Fill in your details below or click an icon to log in:

    WordPress.com Logo

    You are commenting using your WordPress.com account. Log Out / Change )

    Twitter picture

    You are commenting using your Twitter account. Log Out / Change )

    Facebook photo

    You are commenting using your Facebook account. Log Out / Change )

    Google+ photo

    You are commenting using your Google+ account. Log Out / Change )

    Connecting to %s

    More Music News from Variety

    Loading