In a recent memo to Universal Music Group (UMG) employees, CEO Lucian Grainge unveiled plans for a restructuring of the company's operating model. Grainge expressed his belief that this move marks the beginning of a new phase of growth and success for UMG.
The restructuring involves granting greater responsibility to two prominent executives within UMG: John Janick and Monte Lipman. Under this new operating model, Janick will provide support to UMG labels like Blue Note, Capitol, Geffen, Interscope, Motown, Priority, and Verve. On the other hand, Lipman will focus on assisting labels such as Def Jam, Island, Mercury, and Republic.
