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In response to Sanders' abrupt decision, V2's artists and staff expressed disappointment and sorrow with his decision to leave, which, sources said, was due to a falling out in contractual negotiations with the label's British owners.

SANDERS STEPS FROM V2; RCA AWAITS HIS ARRIVAL —UPDATE

Ties With RCA President Jack Rovner Give Speculators Fuel For Speculation
V2 North America President Richard Sanders, widely credited with building the label into a viable unit, unexpectedly resigned from his post late last week, sources confirmed.

Following his eventual departure, Sanders will be made Executive VP/General Manager, RCA Records, sources also confirmed today, adding that V2 founder Richard Branson will fly to New York on Wednesday (4/4) for meetings aimed at finding a replacement.

Will Sanders be to recently named RCA President Jack Rovner what Rovner was to now-BMG North America topper Bob Jamieson when Jamieson ran said label? Jamieson named Rovner President of RCA Records in January, which was also first reported by hitsdailydouble.com (1/16).

Under Sanders' watch, the label developed Moby with a multimedia campaign that has produced a double-Platinum album, signed the Black Crowes, whose new album is about to be released and developed Tin Star and Stereophonics, among others.

In response to Sanders' abrupt decision, V2's artists and staff expressed disappointment and sorrow with his decision to leave, which, sources said, was due to a falling out in contractual negotiations with the label's British owners. Hitsdailydouble.com first reported V2's executive reshuffling on Friday (3/30). Look for an official announcement about Sanders' resignation next week.

Adding credence to our sources' tips that Sanders will eventually surface at RCA after his departure from V2 is complete is the fact that Rovner and Sanders have a long-standing relationship, dating back to time served together at Arista under Clive Davis. In addition, sources have confirmed that the two music men have also spoken in recent weeks about a possible future alliance.

Sanders' ascension at V2 came when he replaced Dan Beck as the label's topper in September 1999, after Beck stepped down due to health concerns. Beck had been President of V2 since the debut of the North American unit in March 1997.

Sanders joined V2 in 1997 as General Manager after a stint at Arista, where he was Head of Artist Development. Before that, he managed artists at Loud and Proud Management, which he founded in 1983.

There is no word on who will succeed Sanders as President of V2. Complicating matters even further is word that there currently is no clear No.2 in the label's existing executive structure, sources said.

V2 Records, which was founded by legendary music executive Richard Branson, launched its worldwide operations in London in December 1996.

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