EMI has unveiled a surprise restructure that brings the company’s recorded music and publishing divisions closer together, under a new boss. EMI Music Publishing boss Roger Faxon will take charge as group chief executive, with EMI Recorded Music’s non-executive chairman Charles Allen stepping aside to an advisory role. The company says its aim is to “reposition itself as a comprehensive rights management company that can take full advantage of all global opportunities in all markets for music”. The Financial Times suggests that investors in Terra Firma – who just sanctioned a £105 million cash injection to EMI – were “bemused by the news, as many had not heard of the planned shake-up”. Source: Press Release Source: Financial Times
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