Larry Magid has left his post as chairman of Live Nation Philadelphia, Billboard has learned. Geoff Gordon remains as president of Live Nation Philadelphia. The circumstances of Magid's departure are unclear, and Live Nation declined to comment.

A pioneer in the concert industry and a fixture on the Philly concert scene for more than 40 years, Magid opened the Electric Factory club in 1968 and later formed Electric Factory Concerts, promoting shows from club to stadium level in the market.

In 1998, Magid and his partners sold Electric Factory Concerts to SFX, which evolved into what is now known as Live Nation Entertainment. Magid played a huge role in developing the Philadelphia concert market, and produced such milestone Philly concerts as Live Aid in 1985 and Live 8 in 2005.