Major Labels

CEO Leoni-Sceti Out At EMI


Charles Allen To Step In As Executive Chairman

image from Elio Leoni-Sceti, EMI Music’s Chief Executive will
be leaving the company on March 31st. Leoni-Sceti came to the company with background in consumer retail and another non-music executive Charles Allen will now be taking the helm at EMI as Executive Chairman. Allen has been non-executive Chairman of EMI Music since January 2009, chairing its Board.

The shift in leadership comes at a difficult time for EMI. The first rulings in a case against investor CitiGroup should be forthcoming. EMI must also make a payment to Citi of $160 million by March 31st on its $4.5 billion loan as well as pass a solvency test.

Leoni-Sceti has only been with EMI for less than two years, but the company is trying to paint the best picture  possible of his departure.  In a statement the label group lauds Leoni-Sceti  for having "successfully led EMI Music through the first phase of its operational turnaround …EMI Music has become a stronger and growing company, with a talented senior team, significant creative success and a more rigorous approach to marketing and operations. This has resulted in increased sales, improved market share and industry-leading EBITDA margins."

Background On Charles Allen:

Aged 53, he
was Executive Chairman of Granada plc from 2001-2004 and then Chief
Executive of ITV plc from 2004 to 2007, having led the business through the merger of Granada and Carlton
Communications plc. He is currently a non-executive director on a
number of boards and an adviser to Goldman Sachs.

From the press release:

Charles  Allen said: “Elio has done a great job. I have thoroughly enjoyed working with him; he is a very talented executive and we all wish him well in the future. Our goals for EMI Music remain the same. I will support and guide the group’s strong team, keep EMI’s focus on creativity and superb A&R, and deliver a digital platform. This is a great business – our task is to ensure it has a great future.”

Elio added: “EMI is a wonderful business with a great team and new creative and operational momentum.  My job here is now done and it is time for me to move on.  It has been a pleasure to work with Charles and so many other talented and committed people. I look forward to seeing the company go on to further success in the future.”

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  1. Elio was at no-talent ass-clown from day one. Totally miscast as corporate savior. He had no idea what he was doing – and did nothing but exert confusion and vague authoritarianism throughout the organization.
    We heard him tell the entire NY staff that he was more committed to excellence than diversity (yes, he counterposed those two ideas). He also referred publicly to cost of living increases as “socialism”.
    Fucking wanker that Elio. Let him go fuck up someone else’s company.

  2. Elio added: My job here is now done and it is time for me to move on.
    ” Where’s my darn life jacket?”
    SS EMI …………… she’s goin’ down

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