This story was corrected on March 28, 2001.
NEW YORK — Laying to rest a raft of speculation, EMI Group has tapped veteran producer-manager Andy Slater to be president and CEO of Capitol Records.
Slater, who will officially assume his duties at the L.A.-based label in May, replaces Roy Lott, who has served as interim prexy of Capitol since June 1998. Lott will return to his prior post as deputy president of EMI’s North American operations.
Slater’s appointment is seen in industry circles as a bid to revitalize the storied Capitol brand. The label’s deep back-catalog includes such music legends as the Beatles, the Beach Boys and Pink Floyd, but its share of the new music market has tailed off in recent months.
That disparity was starkly illustrated by the runaway success of “Beatles 1,” the Fab Four compilation that sold nearly 7 million copies in the U.S. alone but included no songs written after 1970.
‘Impressive track record’
Ken Berry, president and CEO of EMI Recorded Music, said: “As we drive the company forward and further develop the Capitol roster, (Slater’s) impressive track record in discovering exciting new talent will prove invaluable.”
Slater’s career in the biz spans two decades. He started his career as a journalist, writing for such music pubs as Billboard and Rolling Stone, then joined Frontline Management in 1983 as creative director.
Slater later founded Epic imprint Clean Slate Records, best known for signing vampish chanteuse Fiona Apple, in 1995. His current company, Slater Management, has repped Apple along with Macy Gray and the Wallflowers.
Slater has also had a substantial run as a producer, working with the above three acts, as well as Warren Zevon and daytime talk maven Rosie O’Donnell.