Digital distributor The Orchard is looking for a new CEO, after current boss Greg Scholl announced his resignation. He’ll quit on 1st November, and is promising to announce a new position in the coming weeks, which he’ll start on 2nd November.The Orchard’s board is now kicking off a search for Scholl’s replacement, although intriguingly its interim CEO will be Danny Stein, who besides being a director of The Orchard is also boss of music service eMusic. Scholl’s resignation was announced alongside news that The Orchard is to cut 20% of its global workforce.”Over the past two years, The Orchard has completed two major acquisitions and invested in technology efficiencies to make our global team more productive,” said Stein in a statement. “As a result, and also considering the digital music market grew less quickly than we expected it to grow during 2009, we have eliminated positions and implemented other cost saving measures.”There’s been plenty of speculation in recent months that digital growth is seeing a worrying slowdown, but The Orchard is one of the first companies to (publicly at least) announce job losses as a result. “Reducing staff is always a difficult decision, but in this case, the responsible one, and it better positions The Orchard for future growth and profitability,” says Scholl.
Visited 1 times, 1 visit(s) today