The man who turned the Ministry of Sound from a South London club into a global music concern - James Palumbo – is quitting as chief executive of the Ministry group. The company's chief operating officer, Mark Rodol, will take over, with Palumbo staying on in a part time capacity to input on long term strategy and look for new partnerships and deals.
According to the Media Guardian friends of Palumbo reckon he will spend more time on his property interests, and may perhaps become more involved in politics. Palumbo, a close friend of former minister Peter Mandelson, has dabbled in this area before.
Ministry will be keen to stress that Palumbo's departure is nothing to do with the much reported financial problems at the group, brought on by a down turn in the dance music industry. To this end Rodol told the Guardian: "Ministry of Sound is the world's best known global music entertainment brand, and still has tremendous potential. James' entrepreneurial and financial skills have laid the solid foundation for our success to date, and I am looking forward to taking the company on to the next level."