Lucian Grainge to Receive President's Merit Award at Pre-Grammy Gala
Joseph Llanes

Lucian Grainge, Universal Music Group chairman and CEO and the man at the top of Billboard's Power 100 this year, will receive the President's Merit Award, presented by Clive Davis and the Recording Academy, during its Pre-Grammy Gala event on January 25, 2014. The award goes to those who have made "significant contributions to the music industry... [and] the business of music." The award has gone to Clive Davis, Herb Alpert, David Geffen and Berry Gordy, among others, in the past.

Universal Music Group's Financials Show Sales Growth, Vivendi Continues to Struggle

Grainge was named chairman and CEO of UMG in 2011, having joined Universal Music in 1986, succeeding current Sony Music chairman and CEO Doug Morris. In his two years at the helm of UMG Grainge has rearranged the music industry, overseeing UMG's acquisition of EMI -- making UMG the world's largest record label -- and the subsequent reformation of Capitol Records as well as a flurry of executive hires in late 2012 and early this year. Grainge's strategies have been proven out, with SoftBank offering $8.5 billion for the company earlier this year amid talk of a possible division of UMG's parent corporation Vivendi.