EMI: Axe Sharpening, theatre Tie-Up Coming

Terra Firma boss Guy Hands has major cuts planned at music label EMI, so no surprise to see top execs on their way out. As we noted last month, COO Ian Hanson is out, and The Telegraph has updates on other moves:

The clear-out of senior managers is gathering pace in advance of mid-January, when Hands will announce his vision for rescuing Britain’s ailing music major. Chief information officer James Anderson, who oversees IT, is due to leave shortly. Jo McCollum, who headed human resources, quit last year.

It is understood that Hands will continue as executive chairman, with no appointment yet of a chief executive. Mike Clasper and former Northern Foods boss Pat O’Driscoll, who is heading a personnel review, will stay on for the time being.

The paper also says Terra Firma wants to link EMI with Odeon/UCI, a big European theatre chain that the PE firm also owns. It wnats EMI artists to put on concerts and broadcast them on the chain’s screens. Nothing wrong with that idea — bands like Phish have been noodling with the idea for a while — but it’s not a needle-mover.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.