BARNETT TO RETIRE; VAUGHN AND JUBELIRER TO LEAD CMG

It’s official: Capitol Music Group boss Steve Barnett has announced he’ll be retiring on 12/31, wrapping up an amazing music-biz career on a high note. The concluding chapter of that career, of course, has been his leadership of CMG—which he renovated, at the behest of Sir Lucian Grainge, into the Tower beast we know so well.

Capitol President Jeff Vaughn and CMG COO Michelle Jubelirer will jointly take over the leadership of the company. Vaughn will serve as Chairman/CEO; Jubelirer becomes President/COO.

Barnett leaves very big shoes to fill, so having four feet is probably wise.

"This has been an incredible journey," goes Barnett's comment, "and I’ve been tremendously fortunate to work with such amazing people along the way. I am indebted to Lucian for his unwavering belief in me and for his unreserved support for our efforts these entire eight years. To say that I will always be grateful to him is truly an understatement.

"Michelle was the first to join me at CMG and has been my partner in revitalizing the company and creating an environment where artists and our employees could thrive. From the moment Jeff joined us, I knew he’d quickly make his mark on Capitol, and I’m certain that he and Michelle are the perfect team to guide CMG into the future. My appreciation extends to Boyd Muir and my many friends at UMG who have been there for me and my team these past eight years. I thank you all."

"When we acquired EMI, Capitol was a gem that had lost its luster," proclaimed Grainge. "Under Steve’s leadership, Capitol has been rebuilt into one of music’s greatest homes for artist and employee talent. It’s a fitting crown to Steve’s incredible five-decade career. To assure that Capitol’s next chapter is equally successful, we have appointed two gifted executives to lead the company. On behalf of the entire UMG family, I congratulate Jeff and Michelle on their well-deserved promotions and I especially want to thank Steve for making Capitol shine bright once again and wishing him a wonderful retirement with Nancy and the children."

Grainge and Barnett began the Hollywood reboot of CMG in 2012 after UMG absorbed EMI, and the resulting multi-label entity has given the world mega-streams, monster sales, radio smashes, Grammy hardware galore, enormous hardbound books and some really big parties.

Reports that Barnett will continue to introduce legislation to the Capitol Congress remained unconfirmed at presstime.