Signaling exec continuity in at least one of Universal Music Group’s divisions in the newly minted Lucian Grainge era, Universal Republic Records prexy-CEO Monte Lipman and co-prexy/chief operating officer Avery Lipman have signed new contracts.
Both pacts were called long-term agreements by the company, which offered no further information.
Deals were announced Tuesday by UMG CEO Grainge — who took solo reigns at the music company Jan. 1, after sharing the role for most of 2010 with outgoing CEO Doug Morris — and Universal Motown Republic Group chairman Mel Lewinter.
“Monte and Avery are two of the most innovative executives in the business today,” Grainge said in a statement. “From the time they launched Republic Records in 1995, to the formation of Universal Republic, they have displayed creative leadership at its very best.”
The Lipman siblings oversee a roster that includes Jack Johnson, Amy Winehouse, Damian Marley, Enrique Iglesias, Godsmack, Florence and the Machine and Owl City.