UMG U.K. CEO DAVID JOSEPH EXITING COMPANY

In a surprise move, Universal Music U.K. Chairman/CEO David Joseph is stepping down from the role he's held since 2008 to pursue a master's degree in religion and theology at London's King's College.

"David and I have worked together for 26 years, beginning when he agreed to join me in the turnaround of Polydor in the late '90s," UMG Chairman/CEO Sir Lucian Grainge said in a note to staff obtained by HITS. "It’s been a remarkable journey. One of the many things I respect about David is that he never tried to be anyone but himself and he guided the U.K. company to heights in a way that was completely authentic to him. I have enormous respect for his decision to take an entirely different path after so many outstanding years at UMG."

"I know you’re naturally wondering what comes next for the U.K. company," he added. "I’ll be sharing that with you shortly, but today is about David. His contributions—as an executive, as a leader and as a friend—have always been focused on making our company a better place for our employees and artists."

Following a stint as head of artist development for RCA, Josephs has been with Universal U.K. since 1998. In 2008, he took over for Grainge as Chairman/CEO of the company, which leads market share in the country.

Joseph's note to staff is reproduced in full below.

I wanted to share with you that after 26 extraordinary years, I've decided to step back from the company.

It has been an honor to work alongside you, creating something truly exceptional—a company that wasn't only #1 but also led with heart and creativity. We've done that together.

This career, once impossible to imagine, has been a gift for which I'm deeply grateful. Now, after 17 years in this role, it's time to step into something new. Next week, a new chapter begins with a master's in Religion and Theology at King's College London.

But before stepping away, there's one thing I need to say: You've got this.

This team is immensely talented, fueled by ideas, passion and imagination. It's a rare privilege to wake up every day and work at the greatest company in the music industry alongside remarkable artists and their managers who've chosen you—chosen us—to be part of their lives.

Looking forward, you will undoubtedly continue to inspire, innovate and lead the way.

A special thank you goes to Lucian, without whom none of this would have been possible. First, he hired me, and then he let me be myself.

This place, the people, the building, the conversations, the inspiration and the music that somehow makes the rest of life blur into the background—these will all be missed immeasurably.

As you know, life is often about clarity in decision-making and trusting your instinct, and in our case, it's also deeply, undeniably about timing.

Thank you. Working here has been an absolute pleasure.