Following the rejig at the very top of Downtown Music last month - which saw founder Justin Kalifowitz shift from the CEO role to an Executive Chair role - the company has announced three promotions among its senior executive team.
Former COO Andrew Bergman became Downtown's CEO at the start of September. He is being replaced in the COO role by Brad Yuan, who was previously SVP Of Operations. Meanwhile, Andrew Sparkler, previously EVP Business Development, is promoted to the newly created role of Chief Business Officer.
The other promotion announced yesterday sees London-based Loredana Cacciotti move over from music distributor and label services business FUGA - a Downtown subsidiary - to become SVP Digital Licensing & Business Affairs for the company as a whole.
Announcing the promotions, Bergman said: "I'm very proud of the breadth and depth of experience reflected on our executive team. The promotions of Andrew, Brad and Loredana are recognition of the value they've already delivered Downtown, and confidence in their ability to further our growth strategy. They demonstrate an unwavering commitment to our vision of building an equitable global music industry and have the know-how to make it happen".
The executive rejigs at Downtown follow the company's decision earlier this year to sell its owned catalogue of songs and focus all its efforts on its services businesses, providing services to artists, songwriters and other music rights owners.