There are abrupt leadership changes at big companies, and smoother transitions. BMG’s falls into the latter category, with the company announcing yesterday that CEO Hartwig Masuch will be stepping down.
His replacement has already been confirmed too: Thomas Coesfeld, BMG’s current chief financial officer, will take over as CEO from 1 January 2024. Masuch will be taking up an advisory role, so he’s not cutting his ties with the business.
“As our annual results will show, the company is in excellent shape both creatively and financially. I look forward to a seamless transition by the end of the year,” said Masuch.
He’s not the only music industry veteran handing over the reins of his company to trusted colleagues, either. This morning, management company ie:music has announced that its co-founder Tim Clark is retiring.
The agency, whose clients include Robbie Williams, will be run by current directors Michael Loney, Nina Parnaby and Stephen O’Reilly. Clark will become honorary chairman with a two-year consultancy role.
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