Boyd Muir, EVP, CFO and President of Operations at Common Music Group, has been promoted to the newly created position of Chief Working Officer at UMG.
The information was introduced right this moment (October 31) alongside the corporate’s Q3 monetary outcomes, during which UMG reported revenues of EUR €2.870 billion (USD $3.15bn), up 4.9% YoY at fixed forex.
Muir will proceed to report on to UMG chairman and CEO, Sir Lucian Grainge.
The corporate stated right this moment that it’s “instantly initiating an govt search course of” to rent a brand new CFO.
Muir will function each COO and CFO till a brand new CFO is appointed.
In response to Common, Muir has performed a central position within the “physical-to-digital reshaping of firm sources”.
He has additionally been concerned in quite a few acquisitions, together with Sanctuary Group and V2 Music Group, in addition to the corporate’s profitable acquisition of EMI.
Muir was appointed to his present put up in November 2010. Beforehand, he was CFO for Common Music Group Worldwide, the division which manages UMG’s companies in additional than 50 nations.
From 1984 to 1991, Muir labored for Ernst & Younger, together with at its leisure media division in London, and for EMI from 1991 to 1994.
On the latter group, he was head of inside audit, spending appreciable time working in Los Angeles and New York. He was additionally intently concerned in EMI’s acquisition of Virgin Music and Chrysalis Information.
Credit score: Austin Hargrave
“Boyd has completed an impressive job main UMG’s international monetary features by way of a interval of unprecedented development and alter, together with our profitable itemizing on the Euronext in 2021, and our final three years as a stand-alone public firm.”
Sir Lucian Grainge
“Boyd has completed an impressive job main UMG’s international monetary features by way of a interval of unprecedented development and alter, together with our profitable itemizing on the Euronext in 2021, and our final three years as a stand-alone public firm,” stated Sir Lucian Grainge.
He added: “Now, as we flip to executing on the imaginative and prescient we outlined at our latest Capital Markets Day, as Chief Working Officer, Boyd will give attention to serving to us drive the transformation of a number of of our key worldwide operations to make sure we ship on our strategic plan.”
