Piero La Falce, president and CEO of Universal Music Italy, resigned just before Christmas, with immediate effect. His departure takes place some 12 months before his contract was due to expire.

Piero La Falce, president and CEO of Universal Music Italy, resigned just before Christmas, with immediate effect.

His departure takes place some 12 months before his contract was due to expire.

La Falce's successor has yet to be named. During the interim period, responsibility for the running of the company should lie with Pascal Negre, chairman/CEO of Universal Music France and head of Universal Music's Mediterranean division.

Industry sources suggest that former EMI Italy president/CEO Riccardo Clary, who exited the company in July 2004, could make a comeback at the helm of Universal.

Universal Music Italy's CFO Marco Blasi is expected to handle the day-to-day administration.

La Falce had been president and CEO of Universal Music Italy since the PolyGram and Universal merger in 1999. Prior to that he had been president of MCA Italy.

Neither La Falce nor Universal Music Italy were available for comment.

Questions? Comments? Let us know: @billboardbiz

Print