BusinessCompany NewsEMI shake-up by Terra Firma claims FD

EMI shake-up by Terra Firma claims FD

Martin Stewart resigns from his role as music publisher's FD as new private equity owners make sweeping changes

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

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