Tokyo-based label Toshiba-EMI has capped off a sweeping payroll reduction with a raft of executive appointments.
Masato Adachi has been named as Toshiba-EMI’s new CFO, replacing Hideki Kato, effective July 10. Adachi was previously CFO of BMG Japan, also based in Tokyo, and will report to Toshiba-EMI CEO Shoji Doyama. Kato, meanwhile, has been named director of business development at Toshiba-EMI.
“I am extremely pleased that Mr. Adachi will join the executive team here at Toshiba-EMI,” said Doyama in a statement. “I believe his experience will be invaluable in helping to determine the future direction of the company. “
Also effective July 10, Sebastien Fresneau, previously Toshiba-EMI’s VP of marketing and business development, was appointed acting head of international repertoire, reporting to Doyama. Fresneau replaces Shun Mori, who becomes manager of marketing development and will also report to Doyama.
“I am deeply thankful for the great contributions Mr. Mori has made to the company in both the areas of international music and strategic marketing,” Doyama said in a statement. “We believe that Mr. Fresneau will continue to work to increase understanding between Japan and abroad.”
The executive reshuffle follows completion of staff cuts which saw some 200 of the label’s 500 employees accept early-retirement packages.