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Vevo boss standing down

By | Published on Monday 17 November 2014

Rio Caraeff

The CEO of music video platform Vevo, Rio Caraeff, is stepping down, it’s been confirmed. Caraeff’s departure comes as the Sony/Universal owned video service approaches its fifth birthday. According to a staff memo published by Re/code, CFO Alan Price will head up the company while a full-time replacement for the outgoing Chief Exec is recruited.

In the memo, which mainly consists of Caraeff bigging up his team, the Vevo chief writes: “There are times in life when there is no other way to say it other than to just come out with it. So here goes. After nearly six years, I have decided to depart Vevo at the end of this year. What is next for me? I do not yet know but I will take a moment to clear my head and when the time is right, my passion will guide and I will jump back in”.

Vevo will issue a formal statement through its own channels later today, but presumably most people will see it via YouTube.