Schmitt bounced from EMI--implications

ABOUT SCHMITT: Another key member of EMI Music’s misconceived and misbegotten “bucket system” has left the building. President of Central Marketing and Global Catalog Ernesto Schmitt, a survivor of the Internet bubble who joined the company in 2008, will reportedly “return to his entrepreneurial roots” after leading the “hugely successful global campaign to launch the remastered Beatles albums last year," according to a memo from company head Roger Faxon. EMI Music Publishing COO Leo Corbett will take over the catalog and central marketing team responsibilities "on an interim basis," lending weight to ongoing speculation that Faxon will replace some of the remaining executives from the ill-fated Elio Leoni-Sceti regime with members of his trusted supporting cast at the high-powered pubbery. (8/30a)