Vevo CEO Erik Huggers Out

Erik Huggers
Misha Friedman/Bloomberg via Getty Images

Erik Huggers, president and chief executive officer Vevo LLC, listens during the IGNITION: Future Of Digital Conference in New York on Dec. 6, 2016. 

The music video platform's chief since 2015, is stepping down to pursue new opportunities.

Vevo has announced a change at the top. Erik Huggers, president and CEO of the music video platform since 2015, is stepping down to pursue new opportunities.

The company, a partnership between Sony Music Entertainment, Universal Music Group, Alphabet (Google) and Abu Dhabi Media, made the announcement on Friday and said chief financial officer Alan Price would take over as interim CEO.

"We would like to thank Erik for his hard work, dedication and leadership at Vevo, which grew dramatically during his tenure and helped forge stronger connections between artists and fans through popular features and original programming," Vevo’s board of directors said in a statement.

Huggers ranked No. 73 on Billboard's Power 100 list earlier this year, lauded for his leadership that grew the streaming music video channel's viewership to over 20 billion per month. As well, he successfully struck a licensing deal with Warner Music Group, a longtime holdout, bringing the last major label onto the platform. 

Under his guidance, Vevo also overhauled its desktop design, updated its playlist and personalization features and launched new social components for users. As well, it kicked off new original content with music hosts and curators, including its dscvr and Vevo Presents video series.