Universal Music Publishing Group Chairman and CEO David Renzer is leaving his post after helming the company for 15 years, UMG announced in a statement Tuesday (April 26). The news was first reported by Music Row.
Universal Music Group President and Chief Operating Officer Zach Horowitz will oversee publishing until a replacement is named, according to a company spokesman.
Renzer said in a statement, "For 15 years I've worked 24/7 to build UMPG into the industry's leading music publishing company. During that time, I shepherded the company through the purchases of Polygram, Rondor and BMG Music -- three of the biggest acquisitions in the history of the music publishing industry. I worked hard to recast and expand the role of the music publisher, and to collaborate with our companies around the globe in confronting the challenges facing our industry. With UMPG now the industry leader globally, and with an executive team that I believe is second to none, the time feels right to now enjoy more time with family and explore other personal and professional activities.
"I leave UMPG knowing that the company remains in great hands, with a remarkable catalog and artist roster," he concluded. "I will treasure the relationships I've built over the years, with executives and songwriters. This has truly been the most fulfilling work experience of my career."