Roger Faxon has taken the reins at EMI Music Publishing, parent company EMI Group confirmed this morning.
With immediate effect, Faxon becomes chairman/CEO of the music publishing giant, succeeding outgoing long-time chief Martin Bandier, who recently unveiled his plans to lead Sony/ATV Music Publishing.
Faxon's promotion is the culmination of the music publishing division's succession plan, unveiled in January 2005.
For the past year, Faxon served as president and co-CEO of EMI Music Publishing, while Bandier performed as chairman/co-CEO. Prior to that, Faxon was president and COO of EMI Music Publishing.
In a statement issued today, EMI Group CEO Eric Nicoli welcomed Faxon as "the ideal person to lead the next stage of EMI Music Publishing's development," noting his "strategic insight, his digital prowess, his passion for and knowledge of music publishing and his vision for the company."
Nicoli adds, "With his highly talented and creative management team and EMI Music Publishing's outstanding roster of songwriters and catalog, the company is in great hands and has excellent prospects."
Nicoli goes on to wish Bandier the "very best for the future" and thank the executive for his contribution to the company, which he helmed for more than 17 years.
From 2002 to January 2005, Faxon worked with EMI Group in the role as chief financial officer. Before that, he held stints as executive VP and CFO of EMI Music Publishing, and as EMI senior VP, worldwide business development and strategy.
Before joining EMI in 1994, Faxon was an executive with auction house Sotheby's, including a stretch as CEO of Sotheby's Europe.