Former ITV Chief Charles Allen Joins EMI
January 16, 2009 at 8:59 AM (PT)
Former ITV CEO CHARLES ALLEN has been appointed non-executive chairman of EMI MUSIC, reports U.K.'s THE GUARDIAN. ALLEN has been recruited by GUY HANDS, the financier whose private equity firm TERRA FIRMA bought EMI on the eve of the credit crunch in 2007.
HANDS said ALLEN had been advising the company in recent months as it attempts to combat falling record sales and develop new revenue streams. He had already been working closely with EMI's new chief executive, ELIO LEONI-SCETI, with whom he formed "an ideal combination", HANDS added.
"CHARLES has vast experience of managing change in creative industries," HANDS said. "His enthusiasm for music coupled with his business skills and experience makes him an ideal non-executive chairman."
The EMI chairmanship is the latest addition to the bulging portfolio of non-executive roles ALLEN has picked up since he stepped down as ITV's chief executive in 2006.