When Guy Hands stepped out of the CEO role and become Chief Investment Officer at Terra Firma last week, the private equity firm characterized the move as an operational decision that would allow Hands to get more involved with existing portfolio companies and new investments. He’s apparently not wasting any time.
It was revealed today, Douglas Merrill will step down from his roles overseeing the digital business at the Terra Firma owned record label, EMI.
“With digital now comprising over 20 percent of our revenues and growing fast, and with the progress we have made in integrating our digital operations fully into the business, we will no longer operate a standalone digital function,” the memo explains.
It’s not clear if the decisions underlying Merrill’s exit were long in the works or recent.
Merrill was hired last April as President of EMI Digital and COO of EMI New Music.
In a related move, Merrill’s number two Cory Ondrejka (formerly of Linden Lab) will shift to a newly created position as Executive VP of Digital Marketing.
In other staffing related news….
Rosensweig was most recently at Quadrangle group. Prior to that, he spent 18 years at Ziff Davis and he was COO of Yahoo from 2002 to 2006. Activision Blizzard CEO Bobby Kotick was a member of Yahoo’s Board of Director’s during much of that time.
At Activision Blizzard, Rosensweig will report to Activision Publishing president Mike Griffith.
Rosensweig’s substantial online experience will likely be front and center in expanding the game’s connected-entertainment offerings.
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