SFX Entertainment has announced changes to its organizational structure that shifts more of the company’s brand-level operations to the local and regional level. The largest move was the appointment of Greg Consiglio as president and CEO of Beatport, the EDM-focused online store and streaming service. Consiglio was previously president and COO of SFX Entertainment, positions that will be left unfilled, the company said.
In addition, Wouter Tavecchio has been named CEO of SFX Europe, and Jeroen Jansen, creative director of SFX Live North America, will relocate to Los Angeles where there are plans to consolidate several offices there.
SFX has also established a new "global steering committee" of numerous SFX executives, including Consiglio; Ritty Van Straalen, president and CEO of SFX Live; Richard Rosenstein, CFO; Kevin Arrix, evp of brand partnerships for SFX, and an undisclosed number of entrepreneurs whose businesses have been acquired by SFX over the years.
"The moves underway at SFX show a broader commitment to powerful business lines and emphasize the importance of brand operations," said Robert F.X. Sillerman, founder, chairman and CEO of SFX Entertainment. "We are moving to a more distributed organizational structure. We are pushing more of our operations to the local and regional levels around the world, as opposed to maintaining a corporate structure at the top."
The restructuring of SFX comes a month after the company agreed to sell some of its stock for $10 million to a pair of investors -- Wolverine Flagship Fund Trading Limited and Virtual Point Holdings, LLC. An entity affiliated with Sillerman also moved to purchase shares for $5 million in cash. As previously reported, Sillerman intends to take SFX private.