It's Official: Grainge Becomes CEO At UMG
Doug Morris To Remain As Chairman
February 10, 2010 at 5:50 AM (PT)
VIVENDI announced TODAY (2/10) the appointment of LUCIAN GRAINGE as CEO of UNIVERSAL MUSIC GROUP. GRAINGE is promoted from his current role as Chairman/CEO of LONDON-based UNIVERSAL MUSIC GROUP INTERNATIONAL. He will take up the position on JANUARY 1st, 2011, succeeding DOUG MORRIS, who will remain as Chairman. He will relocate to NEW YORK from JULY 1st 2010. During these six months, DOUG MORRIS and LUCIAN GRAINGE will act as co-CEOs of UMG. GRAINGE will report to JEAN-BERNARD LEVY and become a member of the VIVENDI Management Board.
DOUG MORRIS commented, "The time has come for LUCIAN to step up to the CEO role. I am very happy with the new organization as I have been grooming him to succeed me for quite a while now. I know he is ready, willing and able to attack the challenges of the new decade."
Commenting on the appointment, VIVENDI Chairman JEAN-BERNARD LEVY stated, “" am delighted that LUCIAN GRAINGE has agreed to move to NEW YORK to take on the Chief Executive role. His track record speaks for itself, finding stars, growing revenues and building new business models. He has the right combination of experience and innovation to take UMG forward as the migration into the digital era accelerates."
LEVY went on, "I would also like to take this opportunity to thank DOUG MORRIS for the extraordinary results he has achieved over the years in a very tough environment. After starting out as a songwriter in 1965, DOUG has overseen 35 years in the business and taken it from vinyl to VEVO. LUCIAN will be able to benefit from their period in tandem. I know DOUG, as the chairman of UMG, will continue to provide a major contribution to the business and the music industry as a whole."
GRAINGE added, "Stepping into DOUG’s shoes is an honour and a privilege. This is a great industry which I believe has as much to look forward to as to be proud of. If we keep getting the basics right of exceptional music and artistry, backed by a great team and sound business sense, then we’ll continue to achieve success."