August 27, 2010

By By Ed Christman

EMI Music president of central marketing and global catalog Ernesto Schmitt is leaving the company, according to an internal memo obtained by Billboard.

Schmitt is returning to his entrepreneurial roots after leading the "hugely successful global campaign to launch the re-mastered Beatles albums last year," the memo says.

In the interim, EMI Music Publishing COO Leo Corbett will guide the catalog and central marketing team.

The internal EMI communication was sent out by EMI Group CEO Roger Faxon, who said that since his appointment to the new post, he has been spending "the last two month meeting with everyone around the business, finding out about some of the great initiatives that you have been working on, and reaching some conclusions on the way the business needs to operate if it is to deliver the best possible outcomes for its artists."

"While there is still some work to be done, I believe that we're getting towards the point where I'll be able to share my view of the future for EMI Music, and on how we plan to move the entire business forward," he continued.

Subscribe to Billboard magazine today!