LEO CORBETT NAMED EMI MUSIC EVP/CFO
Corbett, who joins EMI Music after stints with Salomon Brothers, Lehman Brothers and Prudential, after which he founded and served as Managing Director of technology venture capital fund Zephyr Management.
In his new role, the Harvard MBA will oversee both financial and technological operations at EMI Music throughout the world.
Said Bandier of the appointment, “Leo’s strong strategic and analytical skills as well as his understanding of complex process-focused businesses will be extremely useful in helping us meet the challenges of our changing environment.”
“We are delighted to have Leo join the already extremely strong worldwide finance group at EMI Music Publishing, led by Joe Puzio,” added Faxon. “Leo's background, combined with Joe's background and knowledge and understanding of our business, will make them a formidable team helping us to continue to build on our record of success.”
Said Corbett, “I'm pleased and honored to be joining the number-one music publisher in the world. The industry has entered an exciting phase of remarkable opportunity, and I look forward to helping EMI Music Publishing leverage the myriad of new formats on behalf of our family of songwriters.”
This January, of course, Bandier announced a succession plan whereby he will share the CEO title with Faxon as of April 1, 2006, relinquishing the CEO to Faxon on April 1, 2007 and finally stepping down as Chairman as of March 31, 2008. The plan then calls for Bandier to on as a consultant for three years after that.
