The NY Post and other sources are saying that EMI’s new
owner Terra Firma are actively looking for a new executive
to oversee day-to-day business and may reach outside the music
business to find one.
A role is also expected for Stephen Alexander, a
managing director at Terra Firma who has often overseen the firm’s
investments in the past. Where this leaves current chairman Eric
Nicoli, US head Roger Ames and all of their recent hires like Jason Flomm remains
unclear.
Whoever is chosen will certainly be charged with cost cutting to pay for the purchase. Expect more news in September and October.
