Edel Records COO/CFO Michael Baur is to leave the company June 30. Edel Group CEO Michael Haentjes will handle Baur's duties on an interim basis. Baur joined the Hamburg-based indie from Frankfurt con

Edel Records COO/CFO Michael Baur is to leave the company June 30. Edel Group CEO Michael Haentjes will handle Baur's duties on an interim basis. Baur joined the Hamburg-based indie from Frankfurt consulting company Roland Berger in March 2002. He declined to discuss his plans.

News of Baur's departure coincides with the publication today of Edel's financial results for the first half of 2004. Earnings before interest, taxes, depreciation and amortization almost doubled to €7.3 million ($8.7 million). Net earnings in the three months to March 31 reached €2.8 million ($3.3 million), vs. a loss of €1.3 million ($1.5 million) in the corresponding period last time.

Edel's release schedule for the next half-year includes new albums by Kool & the Gang and Toni Braxton.