Guy Hands, chairman and CEO of private equity firm Terra Firma, which owns EMI, will be replaced by Tim Pryce, who will become Terra Firma’s CEO.
Hands, who will also become Chief Investment Officer, says his new position will enable him to focus on Terra Firma’s investments and business development. He presumably needs more time to focus on this, given the EMI disaster.
Pryce is a founding member of the private equity firm as well as its former general counsel.
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