EMI veteran Keith Wozencroft is taking a new role with the company. The executive, who currently serves as president, Capitol Music and Virgin Records U.K., has entered into a long-term joint-venture label relationship with EMI Music U.K. and Ireland, with effect from July 17.

"I've always considered the possibility of building my own label; giving me the opportunity to focus on the worldwide development of fewer artist," comments Wozencroft in a statement, issued today.

In future, Wozencroft will continue to work with EMI as an A&R executive, reporting to Tony Wadsworth, chairman and CEO of EMI Music U.K. and Ireland.

"I love my current role at EMI but I feel that now is the right time to make this move," adds Wozencroft. "I'm very pleased that under this new arrangement I'm able to maintain a close working relationship with Tony Wadsworth, the EMI labels and an incredible roster of artists."

Wozencroft joined EMI in August 1990 as a sales representative. Over the years, he has worked with such acts as Radiohead, Supergrass, Coldplay, Kylie Minogue and Gorillaz.

In September 2002 when he was appointed president, Capitol Music U.K., overseeing both Parlophone and EMI Records. His duties expanded further in August 2005, when he added Virgin Records U.K. to his list of responsibilities.

Going forward, the EMI U.K. label managing directors Terry Felgate (EMI Records), Miles Leonard (Parlophone) and Ferdy Unger-Hamilton (Virgin Records U.K.) will report to Wadsworth.