As expected, EMI have appointed the Executive VP Europe of cleaning products and healthcare firm Reckitt Benckiser, Elio Leoni-Sceti, to the job of Chief Executive at EMI Music, the major music firm's recorded music division, which Terra Firma chief Guy Hands has himself been heading up since his private equity outfit acquired the major last year. The move will enable Hands to take a more backseat, group level role at the company.
As a healthcare firm Reckitt Benckiser make several drug brands, which presumably is why Leoni-Sceti is ideal for the job. A drugs specialist in charge of a music firm - perfect match - Strepsils all round I say. Of course, some of you out there will be suspicious of a non-music man taking the top job at a major record company, but let's not forget former EMI chief Eric Nicoli worked for United Biscuits before moving into music, and his time leading EMI worked out, erm, real good.
Hands had reportedly been sounding out Leoni-Sceti regarding the top job for a short while now, he being eager to take that more back seat role at the company once his restructuring programme was complete. As expected, the new recruit will head up the EMI record company, leaving EMI Music Publishing in the hands of incumbent CEO Roger Faxon.
With Leoni-Sceti's appointment confirmed, Hands put in a call direct to Team CMU to wax lyrical about how delighted he was. Here's what he said. "I am delighted that Elio is joining as Chief Executive of EMI Music to lead the most exciting business transformation in the music industry. His career achievements and outstanding leadership qualities are ideally suited to ensuring that EMI is a successful business. Elio has the passion, drive and belief in the future of the music industry to realise the ambitions we all have for EMI. Having completed the organisational restructuring at the end of June and finalised our strategic work, Elio joins at the right time to shape, drive and lead EMI to become the world's most artist focused and consumer friendly music company. With Elio's arrival as Chief Executive, I will be stepping back to become Non Executive Chairman of EMI. I would like to thank all our artists, staff and business partners for their continuing support and hard work to effect the changes underway and the positive results being achieved. Now where's my Mr Sheen, I need to get this office nice and clear for Elio".
Leoni-Sceti was also in quote-giving mood, telling us: "This is a hugely exciting time for the music business and for EMI. EMI is the world's longest established music company operating in over 40 markets globally with a roster of some of the most successful artists in the world. They range from long established names such as The Beatles, Pink Floyd, Queen and The Beach Boys to contemporary singers such as Kylie Minogue, Lily Allen and Norah Jones. Its current successes include Coldplay and Katy Perry topping both the UK and US charts. The potential that can be realised in this industry is massive, music consumption is growing more than ever across the world and I cannot wait to get started and to be working with EMI's artists and employees. Now, Lemsip anyone?"