Boyd Muir, EVP, CFO and President of Operations at Common Music Group, has been promoted to the newly created function of Chief Working Officer at UMG.
The information was introduced immediately (October 31) alongside the corporate’s Q3 monetary outcomes, by which UMG reported revenues of EUR €2.870 billion (USD $3.15bn), up 4.9% YoY at fixed foreign money.
Muir will proceed to report on to UMG chairman and CEO, Sir Lucian Grainge.
The corporate stated immediately that it’s “instantly initiating an government search course of” to rent a brand new CFO.
Muir will function each COO and CFO till a brand new CFO is appointed.
In keeping with Common, Muir has performed a central function within the “physical-to-digital reshaping of firm assets”.
He has additionally been concerned in quite a lot of 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 submit 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 inner audit, spending appreciable time working in Los Angeles and New York. He was additionally carefully concerned in EMI’s acquisition of Virgin Music and Chrysalis Data.
Credit score: Austin Hargrave
“Boyd has accomplished an impressive job main UMG’s world monetary features via a interval of unprecedented progress 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 accomplished an impressive job main UMG’s world monetary features via a interval of unprecedented progress 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 deal with serving to us drive the transformation of a number of of our key worldwide operations to make sure we ship on our strategic plan.”
