EMI shake-up by Terra Firma claims FD

Martin Stewart has stood down from his position as EMI's financial chief in the wake of Terra Firma overhauling the company's boardroom structure.

EMI said: 'In connection with Terra Firma's acquisition of EMI Group plc it is pleased to announce the appointment to its board of Chris Roling and Ashley Unwin (both Managing Directors of Terra Firma Capital Partners Limited). Chris Roling has been appointed as Chief Operating Officer of EMI Group and CFO of both EMI Group and EMI Music and Ashley Unwin as Director of Business Transformation for EMI Group and EMI Music.'

After snapping up the ailing company in May,the private equity heavyweight has introduced a new governance structure which will involve the EMI board reporting into a new supervisory board to be chaired by Terra Firma chief exec Guy Hands.

EMI's CEO Eric Nicoli, was another major casualty of the buyout as he agreed tostep down in advance of the de-listing of the group which is set for 18 September.

Hands said: 'I would like to thank Eric Nicoli and Martin Stewart for their service to the Group.'

Further reading:

EMI agrees to £2.4bn takeover by private equity group