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EMI Chief Executive To Quit

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By Guest

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EMI’s Chief Executive, Eric Nicoli, is to quit his position at the record label prior to the companies takeover next month.

 

As we previously reported, EMI agreed to a $2.4 million takeover by private equity firm Terra Firm earlier this month. Nicoli has agreed to step down from his position at the company prior to the completion of the deal - which is expected to be on September 18th when the company is de-listed from the London Stock Exchange.

 

Both Ashley Unwin and Chris Roling, managing directors for Terra Firma, have also been awarded with seats on EMI’s board as part of the shake-up, reports the BBC. EMI is home to such artists as Coldplay and The Beatles.

 

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