VIVENDI: LUCIAN GRAINGE PROMOTED TO CHIEF EXECUTIVE OFFICER UNIVERSAL MUSIC GROUP
FRANCE, Wednesday, February 10, 2010 - Vivendi announced today the appointment of Lucian Grainge as Chief Executive Officer of Universal Music Group (UMG), the world’s leading music company. Mr. Grainge is promoted from his current role as Chairman and CEO of London-based Universal Music Group International (UMGI). He will take up the position on Jan. 1st 2011, succeeding Doug Morris, who will remain as Chairman. He will relocate to New York from July 1st 2010. During these six months, Doug Morris and Lucian Grainge will act as co-CEOs of UMG. Lucian Grainge will report to Jean-Bernard Levy and become a member of the Vivendi Management Board.
Under Lucian Grainge’s leadership since 2005, UMGI has grown its market share worldwide, broken global acts and led the music industry in developing a range of new digital services. He started his career with CBS/April Music in 1979, advancing to positions in Artists & Repertoire (A&R) and talent development, and rising to senior management positions at PolyGram UK and Universal Music internationally.
Doug Morris commented: “The time has come for Lucian to step up to the CEO role. I am very happy with the new organization as I have been grooming him to succeed me for quite a while now. I know he is ready, willing and able to attack the challenges of the new decade.”
Commenting on the appointment, Jean-Bernard Levy, chairman of the Vivendi Management Board, stated: “I am delighted that Lucian Grainge has agreed to move to New York to take on the Chief Executive role. His track record speaks for itself, finding stars, growing revenues and building new business models. He has the right combination of experience and innovation to take UMG forward as the migration into the digital era accelerates.”
Jean-Bernard Levy went on:”I would also like to take this opportunity to thank Doug Morris for the extraordinary results he has achieved over the years in a very tough environment. After starting out as a songwriter in 1965, Doug has overseen 35 years in the business and taken it from Vinyl to Vevo. Lucian will be able to benefit from their period in tandem. I know Doug, as the chairman of UMG, will continue to provide a major contribution to the business and the music industry as a whole.”
Lucian Grainge added: “Stepping into Doug’s shoes is an honour and a privilege. This is a great industry which I believe has as much to look forward to as to be proud of. If we keep getting the basics right of exceptional music and artistry, backed by a great team and sound business sense, then we’ll continue to achieve success.”
A world leader in communications and entertainment, Vivendi controls Activision Blizzard (#1 in video games worldwide), Universal Music Group (#1 in music worldwide), SFR (#2 in mobile and fixed telecom in France), Maroc Telecom Group (#1 in mobile and fixed telecom in Morocco), Canal+ Group (#1 in pay-TV in France), GVT (#1 alternative operator in fixed telecom and internet in Brazil) and owns 20% of NBCU (leading U.S. media and entertainment group).
In 2008, Vivendi achieved revenues of €25.4 billion and adjusted net income of €2.7 billion. With operations in 77 countries, the Group has about 43,000 employees. www.vivendi.com