EMI Music CEO Elio Leoni-Sceti has announced that he’ll be leaving the label on 31 March, with former ITV boss Charles Allen stepping into a role as executive chairman to replace him. “EMI is a wonderful business with a great team and new creative and operational momentum,” says Leoni-Sceti. “My job here is now done and it is time for me to move on.” The timing is interesting, to say the least. EMI has been the subject of near-constant speculation in recent months over its financial position, and this week is enmeshed in a court battle over digital sales with one of its biggest acts, Pink Floyd. As recently as last month, Leoni-Sceti was working on a new plan for EMI Music to secure a further injection of funds from investors. Source: Billboard
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