EMI taps Rose exec VP
Ex-McKinsey & Co. partner tapped to lead strategic review
Rose's immediate task will be to oversee EMI's ongoing operational review, initiated by Nicoli and Levy to improve EMI's business performance, particularly in its North American operations. Rose will serve a vital role in processing and acting on the information gathered by Levy and Nicoli during their worldwide tour of EMI divisions over the past six weeks, said a source close to the situation.
EMI head of new media Jay Samit and business development chief Ernesto Schmitt will report to Rose. The two had previously reported directly to Levy. Also under Rose's purview will be EMI's government and industry affairs operations.
Rose will take up the job Jan. 1. He comes to EMI from New York-based consulting firm McKinsey & Co., where he was a senior partner and co-head of the firm's global media and entertainment practice, advising media congloms on growth strategies, mergers, cost savings and other operational issues. Exec also helped to found McKinsey's e-commerce practice and a special initiative on broadband communications.
All those experiences will likely come in handy at EMI, which is looking for ways to trim overhead and revitalize its music labels, which include the flagship Capitol and Virgin imprints. While boasting a deep bench of catalog material, including work from the Beatles, Pink Floyd and Frank Sinatra, EMI has been criticized of late for not keeping pace with its peers in signing high-selling new acts.
Rose's online experience will also be useful. EMI has also been at the forefront of music marketing and distribution in cyberspace, signing a host of deals for music streaming, downloading and CD-burning under new-media guru Samit. But EMI and other labels face what may be their biggest challenge in the coming months, as the label-backed music subscription services MusicNet and Pressplay roll out in an uncertain market.
(Erich Boehm in London contributed to this report.)
