Report: Euro Marketing Exec Offered EMI Music Head Post
June 27, 2008 at 5:48 PM (PT)
At the very least, you have to say that TERRA FIRMA head GUY HANDS is thinking out of the box when it comes to finding the next EMI music division honcho. FINANCIAL TIMES reports that HANDS is negotiating with ELIO LEONI SCETI, head of the Europe division of RECKITT BENCKISER, to run EMI MUSIC. RECKITT BENCKISER is the maker of U.K. household goods such as AIRWICK, FINISH and VEET.
Reportedly, HANDS hopes that SCETI, who previously worked at PROCTER & GAMBLE, would use his packaged goods marketing experience to stem the decline in CD sales by using new technology such as social networking sites to market acts directly to consumers. FT further speculates that "The decision has underpinned speculation that Mr. HANDS could yet seek to merge the recorded music business with WARNER MUSIC, or syndicate publishing earnings, as his group looks for ways to repay the £2.4bn debt it took on just before the credit crunch began."
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