Mark Rodol, CEO of London-based dance music specialist Ministry of Sound (MoS), has exited the company after 11 years' service.

Mark Rodol, CEO of London-based dance music specialist Ministry of Sound (MoS), has exited the company after 11 years' service.

Rodol took operational control of MoS in March 2003 when its founder James Palumbo stepped down from running the company on a day-to-day basis. Prior to his promotion, Rodol was creative and marketing director for the company.

A spokesman says MoS Recordings managing director Lohan Presencer will assume day-to-day management of the company, with immediate effect.

In a joint statement issued today, Rodol says his decision was made in order to "explore new career opportunities." He adds: "The entertainment industry as a whole is going through huge changes at the moment and I have a desire to play a part in developing a brand new template that will define how business is conducted in the future."

During his tenure as CEO, Rodol oversaw a major restructuring and cost-cutting program at the company, which has been hard hit by a slump in the dance music market.

According to the statement, Rodol will keep a shareholding in MoS and will maintain a close working relationship with its employees.

Since starting life as a London dance club in 1991, MoS has expanded into a multimedia business empire, which incorporates club tours, record labels and its flagship club in the Elephant and Castle district of south London.

Figures published in the British Phonographic Industry's 2004 Statistical Handbook indicate MoS was a key player in the U.K. compilation albums market last year, with a 7.7% share, led only by Universal Music, EMI and Warner Music. Of the overall albums market, MoS claimed a 1.1% share down slightly from the previous year. In singles, MoS took a 2% share of the national market in 2003, compared with 1.2% in 2002.