London, May 16th 2005: Universal Music UK chairman Lucian Grainge has announced the promotion of Jason Iley to managing director of Mercury Records.

Iley leaves his current role as general manager of sister company Island to take up his new position on June 1.

Iley, 36, joined Island in September 2000 from Polydor. Since then under the stewardship of MD Nick Gatfield, he has played a pivotal role in the renaissance of Island Records in the UK. Recent successes for the company have included artists as diverse as U2, Nelly, McFly, Keane, Akon, Sugababes, Mary J. Blige, PJ Harvey, Busted, Shaggy and Amy Winehouse.

Lucian Grainge says: “Jason is an exceptionally creative and focussed executive. His drive and business acumen have helped deliver a succession of fantastic results at Island.”

Iley says: “I’d like to thank Nick Gatfield, the great team at Island and all the Island artists and management for the best years I’ve had in the music business so far. I’m very excited about my new job and I’m looking forward to making Mercury the biggest label in the UK. ”

At Mercury, Iley replaces Greg Castell who after a three-year tenure as MD is in discussions about other opportunities within the Universal group.

Island managing director Nick Gatfield is expected to announce details of a reshuffle in the coming weeks, although Iley is not expected to be replaced directly. He says, “Jason has helped build an incredible team at Island. I have total confidence they will step up to the challenge of continuing to capitalize and build on the tremendous success the company has experienced over the past few years. I’d like to thank Jason for his invaluable contribution to myself and Island – his promotion is timely and well deserved.”