Tom Lipsky, CEO/president of Sanctuary Records Group in North America, will be leaving the company effective June 30 to pursue other opportunities. The move is part of the global restructuring the Sanctuary Group has undergone in the past 6 months, according to a statement.
Lipsky will continue with Sanctuary through June 30 to assist with the transition of label leadership and functions dictated by the company’s restructuring plans. He will divide his time between the company’s New York and Raleigh offices, the latter of which will close in June.
Lipsky joined Sanctuary in 2000 when parent company Sanctuary Group plc acquired CMC International Records, Inc., the Raleigh NC based record label that Lipsky co-owned with BMG Entertainment.
A Sanctuary spokesman said the decision was “totally amicable” and that the move was “part of the restructuring process.”
Lipsky’s exit announcement comes on the heels of Sanctuary Group plc’s appointment of British executive Bob Ayling to the post of non-executive chairman, confirmed today (April 4).