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Griffiths’ exit comes on the heels of talk that BMG may lose Zomba/Jive distribution rights in the U.S., which would drop BMG to last place among the five majors.

GRIFFITHS EXITS BMG POST

Veteran Label Exec Ankles Over Company’s Future Direction
In the latest managerial shakeup to hit beleaguered BMG, music industry veteran Richard Griffiths, President U.K. and Europe for the music group, has abruptly left the company after what sources say was a "blistering fight" over its future direction.

Just last week, BMG CEO Rolf Schmidt-Holtz announced the appointment of Michael Smellie as COO of the company, proclaiming his new management team was in place.

Sources indicate that Thomas Stein, currently Executive VP Worldwide Marketing and A&R for the company, will be named President BMG Europe, assuming many of Griffiths' duties. In his new role, Stein will no longer oversee worldwide marketing. That division will now fall under Smellie's domain.

Christoph Schmidt, currently President BMG Germany, Switzerland and Austria, is expected to take on added responsibilities in the reshuffle. Schmidt was originally brought in by Stein, to whom he'll now report.

As President, U.K. and Europe, Griffiths oversaw all of BMG’s European business units. He was previously Epic Records President and CBS Sr. VP of West Coast Operations.

Griffiths’ exit comes on the heels of talk that BMG may lose Zomba/Jive distribution rights in the U.S., which would drop BMG to last place among the five majors. In addition, BMG insiders have already said the company could post losses of close to $150 million this year. It is believed to be the first year in its history that the company will post such losses.

Bertelsmann chief Thomas Middelhoff has brought up the possibility that the German media giant might sell off some of its non-core businesses, before it eventually goes public. Following these statements, speculation abounds that the loss-making music group may very well be considered one of these non-core ventures.

Since the departures of Michael Dornemann and Strauss Zelnick late last year, the company has gone through several top-level changes, including the death of Rudi Gassner and the subsequent appointments of Schmidt-Holtz and Smellie.

Will Griffiths now rejoin old pal Ken Berry at EMI in some capacity? Stay tuned.

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