Universal Music International (UMI) president/COO John Kennedy revealed today (Feb. 2) that he is to leave the company at the end of the month.

Universal Music International (UMI) president/COO John Kennedy revealed today (Feb. 2) that he is to leave the company at the end of the month.

London-based Kennedy took the job in July 2001, moving from chairman/CEO of Universal Music U.K. He was seen as the heir apparent to UMI chairman/CEO Jorgen Larsen.

In a statement, Kennedy says he will announce his plans in the near future.

"I've spent the past eight years working for record companies -- first PolyGram, then Universal -- and have been involved with many fascinating, enjoyable aspects of this side of the music industry," Kennedy says. "I'm pleased to have helped reshape and strengthen UMI companies worldwide, but now I've decided that it's time for me to take on a different type of challenge. I want to build my own business again, and believe that this is a time of great opportunity."

Larsen says, "I obviously regret losing such a talented, trustworthy and hard-working fellow executive, with whom I have been sharing the considerable workload for several years. However, I have no choice but to accept John's decision to leave, and wish him continued success."

Questions? Comments? Let us know: @billboardbiz

Print