Sanctuary Music staff news now - and there's lots of it. First up, Mike Miller, who has been a senior member of the independent music company's management team since 1986, has announced he is resigning from the board to pursue new opportunities. Miller has been part of the team trying to put things right at Sanctuary following the Group's recent and much documented financial problems, but has now handed over the Group Finance Director role to fellow board member Paul Wallace.
Confirming Miller's departure, Sanctuary co-founder Andy Taylor told CMU: "Mike has been a fantastic member of the Sanctuary family. He has always been a highly committed, professional colleague and loyal friend and it is with real regret that I have accepted his resignation. Mike played a key role in building the strong base of businesses that we can now all benefit from going forward. I understand his desire to move on now having helped restore Sanctuary's finances. I am confident that his experience and skills will ensure he has a bright and successful future."
Next up, Tom Lipsky, the boss of Sanctuary's US recorded music business has announced he will be leaving the company at the end of June, also to pursue new opportunities. Lipsky took on the top job at the Sanctuary division when the Group acquired CMC International Records, which Lipsky co-owned, back in 2000. It is unclear if Lipsky's departure will have any implications for the rest of Sanctuary Records US, although it is known that the division's office in Raleigh, North Carolina will close.
Finally from the HR department at Sanctuary towers - some new board appointments. Firstly former BA chief Bob Ayling has taken on the Chairman role which the aforementioned Andy Taylor stood down from at the end of last year, while one James Wallace has been appointed as a non-Executive Director. One more non-Executive Director is likely to be appointed in due course.
Confirming all that, Taylor continued: "I am delighted that Bob has agreed to become Chairman of Sanctuary and that James has joined the Board. These appointments strengthen the Board significantly and will provide the additional controls, governance and guidance that should allow the Group to deliver improved performance".
Bob Ayling himself added: "I am very pleased to be joining Sanctuary at this important moment in the Group's history. Before its recent troubles, Sanctuary was successful over many years. The new Board is determined that it should be successful again. While costs have been cut and the balance sheet has been repaired, the Group has retained talented people, valuable assets and an impressive roster of artists. Within a strong governance framework established by the new Board, management will work to drive the business to deliver the results of which it is capable. My priorities are to ensure proper standards of corporate governance and financial transparency and ensure the Group delivers appropriate levels of performance. With the new Board in place, I am optimistic that we can achieve these goals, although it may take time to do so."
The new board has been finalised following an EGM announcement on 17 Mar which confirmed the Group had completed a £110m fundraising to restore the company's balance sheet and secure the way for future development.