PASCAL NÈGRE EXTENDS CONTRACT FOR NINE YEARS
LONDON, 4 SEPTEMBER 2002 – Pascal Nègre, President and Chief Executive Officer of Universal Music France, has extended his employment contract with the company for a further nine years, effective retroactively from January 1, 2002.
The announcement was made today by Jorgen Larsen, Chairman and Chief Executive Officer of Universal Music International (UMI), to whom Nègre reports.
Universal Music France is among UMI’s largest and most successful operating companies worldwide. It is consistently ranked as market leader in France, and currently also has the largest market share of any UMI company: 35% for the first half of 2002.
Nègre, age 41, has been Chairman/CEO of Universal Music France since 1998, following the acquisition of PolyGram by Seagram and its integration into the Universal Music Group. He joined PolyGram France in 1990, and subsequently served as Managing Director of its Barclay, Island and Mercury divisions. He was appointed Managing Director of PolyGram France in November 1994.
Nègre has maintained Universal Music France’s market dominance by developing and championing its hugely popular roster of French artists, and by successfully marketing Universal Music’s top-rank roster of international acts in the territory. Among the artists signed to Universal Music France are Johnny Hallyday, Mylène Farmer, Gérald de Palmas, Lara Fabian, Florent Pagny, Noir Désir, Eddy Mitchell, Alain Bashung, Alizée, Zazie, Vanessa Paradis.
Nègre says, "It's no easy thing to make a commitment concerning the next nine years of your life. I have been able to make up my mind without hesitation because all the necessary factors are united.
"Music is a sector which will continue to grow and surmount all the difficulties it is faced with, particularly piracy. Universal Music International's performance over the years confirms its position as market leader and I am sure the company will stay at the top thanks to the combined talent of its artists and management. It takes time to create a relationship with major artists, emerging talents and music teams. They know now that I have time on my side to help them succeed.
"I am very happy to have made this decision with the help and support of Jorgen Larsen," added Nègre.
Jorgen Larsen says, "Pascal is one of our most talented and professional executives, and I am extremely pleased that his working relationship with UMI has been extended for a further nine years. The unusual duration of this extension reflects the enormous faith that we have in Pascal’s ability to increase the business for which he is responsible—even under the somewhat difficult conditions that our industry is temporarily experiencing."
Larsen continues, "On a personal level, I am also happy that I will be continuing for many years to come the friendly and efficient working relationship that Pascal and I have established."
France is the fifth largest music market in the world, according to figures published by the International Federation of the Phonographic Industry (IFPI). Industry wide, pre-recorded music sales in France grew by 7% for the first six months of this year, and grew by 8.4% in units during 2001.
Universal Music International
Universal Music International is a division of Universal Music Group; the world's leading music company with wholly owned record operations or licensees in 63 countries. Its businesses also include Universal Music Publishing Group, one of the industry's largest global music publishing operations.
Universal Music Group consists of record labels Decca Record Company, Deutsche Grammophon, Interscope Geffen A&M Records, Island Def Jam Music Group, Lost Highway Records, MCA Nashville, MCA Records, Mercury Records, Motown Records, Philips, Polydor, Universal Records, and Verve Music Group as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world. The Universal Music Group owns the most extensive catalogue of music in the industry, which is marketed through two distinct divisions, Universal Music Enterprises (in the U.S.) and UM3 (outside the U.S.).
Universal Music Group is a unit of Vivendi Universal, a global media and communications company.