Harmony, the US-headquartered music rights firm, has confirmed that its long-time CEO, Scott Pascucci, is leaving the function as a part of a administration re-organization.

Succeeding Pascucci as Harmony CEO from July 1 might be Bob Valentine, the corporate’s present President who has labored at Harmony for over 18 years.

Elsewhere on the firm, Harmony’s Chief Label Officer, Tom Whalley, will – like Pasucci – step down from his present place on June 30, 2023.

Pascucci will stay a member of Harmony’s Board of Administrators and each Pascucci and Whalley might be inaugural members of a newly shaped Harmony Advisory Board together with Jake Correctly, Harmony’s former Chief Publishing Officer.

Whalley may also proceed his day-to-day involvement in Loma Vista Recordings, his label JV with Harmony.

In the present day’s information marks the second introduced exit of a ‘mini-major’ CEO this month, following the affirmation that BMG‘s Chief Exec, Hartwig Masuch, might be leaving that function on the finish of 2023, succeeded by Thomas Coesfeld.

(BMG and Harmony have comparable ranges of turnover, though the Bertelsmann-owned firm is the bigger of the 2: Harmony is believed to generate round USD $600 million of income yearly, whereas BMG generated EUR €371 million within the first half of 2022.)

Elsewhere within the music biz, it’s additionally been confirmed this week that Helen Murphy has exited her function as CEO of Anthem Leisure Group, previously referred to as Olé.

Scott Pascucci joined Harmony in 2013 when Bicycle Music and Wooden Creek Capital acquired Harmony Music Group.

Previous to Harmony, he served on the Board of Administrators of Bicycle Music; was COO of Unique Releasing (an unbiased movie firm); President of Rhino Leisure/Warner Strategic Advertising and marketing (a division of Warner Music Group); and Co-Chair of Frank Sinatra Enterprises; and a enterprise affairs govt at Sony Music. Earlier than getting into the music trade, Pascucci was a bond dealer at Morgan Stanley.

Discussing his departure from the CEO function at Harmony, Pascucci stated: “I began my profession within the music enterprise 30+ years in the past for the straightforward motive that I really like music, and I found alongside the best way that I get pleasure from constructing companies and main groups of individuals.

“I’m happy with all that we have now achieved. I stay up for persevering with on the Board of Administrators, to assist information the Firm ahead below Bob’s management, whereas additionally having extra time to concentrate on my pursuits in movie and social affect initiatives.”

Scott Pascucci, Harmony

“Due to Brett Hellerman, I used to be given the chance to do all of these issues at Harmony. In 10 years, we have now constructed an organization that issues within the music trade, a spot that cares about its workers, artists and writers, and that’s well-positioned for the longer term. I’m happy with all that we have now achieved. I stay up for persevering with on the Board of Administrators, to assist information the Firm ahead below Bob’s management, whereas additionally having extra time to concentrate on my pursuits in movie and social affect initiatives.”

Pascucci continued: “I actually recognize the unwavering assist and steerage of Jon Rotolo, Steve Smith and Alex Thomson, and the distinctive dedication of the whole Harmony workforce. I might additionally like to specific my honest because of Tom Whalley and Jake Correctly, each for sharing the imaginative and prescient for Harmony and for agreeing to affix me as founding members of the brand new Harmony Advisory Board.”

Bob Valentine joined Norman Lear’s Act III Communications in 1999 when it acquired Harmony Data.

In 2001, Valentine joined Fox Leisure’s tv enterprise growth group, however returned to Harmony 4 years later to develop into CFO. He served in that capability till 2021, when he was named President of Harmony. Valentine began his profession as a monetary analyst in Morgan Stanley’s funding banking division.

Valentine commented at this time, “I’ve had the privilege of serving to to construct Harmony into the corporate that it’s at this time ever since Norman Lear and his enterprise associate Hal Gaba had the extraordinary foresight to purchase a small, unbiased jazz file label in the identical yr that Napster was invented. The journey since then has been scary, thrilling, shocking, and extremely rewarding.

“Scott has led Harmony by means of an immense quantity of progress and alter over the past decade, and I couldn’t be prouder of the corporate that he and Tom have helped to flourish. I’m excited to steer Harmony’s subsequent chapter, and I’m glad that Scott and Tom will proceed to offer their insights and recommendation alongside the best way.”

“I’m excited to steer Harmony’s subsequent chapter, and I’m glad that Scott and Tom will proceed to offer their insights and recommendation alongside the best way.”

Bob Valentine

Whalley said, “From the very starting of my profession, I’ve all the time been drawn to artists who’ve a extremely sturdy viewpoint, have a imaginative and prescient for themselves and have one thing vital to say. I consider that while you signal an artist you could have a shared imaginative and prescient, long-term dedication to growth and conviction to repeatedly assist that artist’s profession. The identical core values maintain true for a startup label.

“In 2014, I discovered a fantastic partnership with Scott Pascucci and Harmony. That partnership helped construct a vital unbiased label, Loma Vista Recordings. It has been an added bonus to function the Chief Label Officer for frontline labels at Harmony. I’m very happy with what we have now achieved.

“Harmony Label Group Providers has constructed an extremely sturdy international platform to assist our very gifted, eclectic rosters. From high to backside, in each division, we have now extraordinarily passionate, skilled executives in advertising assist, promotion, finance and enterprise affairs. They do unimaginable work each single day.

“The Presidents of Fantasy Data, Harmony Data, Harmony Jazz, Rounder Data, Loma Vista Recordings, Simple Eye Sound, KIDZ BOP and Fearless Data all have the management qualities essential to run profitable unbiased file labels and types. Their artistic imaginative and prescient and unwavering assist for his or her artists make daily thrilling.

“I wish to thank the Harmony Board of Administrators, Scott Pascucci and Bob Valentine for his or her full dedication to Harmony Label Group throughout my tenure. I stay up for becoming a member of Scott and Jake Correctly in serving on Harmony’s Advisory Board.”

Talking for the Harmony board of administrators, Chairman Steve Smith stated: “Scott has challenged and impressed the Harmony workforce to construct a worldwide music firm far past our biggest expectations. Since our acquisition of the corporate in 2013, Harmony has grown to develop into a stunningly profitable indie, purpose-built to champion artists, elevate voices, and affect tradition, exactly as a result of it bears Scott’s signature.”

Smith added: “Tom’s dedication first to carry Loma Vista Recordings below the Harmony umbrella in the summertime of 2014, after which to comply with handle our total roster of frontline labels, has set a normal for excellence in artist and repertoire growth admired across the globe. We couldn’t be extra appreciative of each their contributions to the Harmony story, or happier that they’ve dedicated to maintain shut counsel with the corporate’s management as soon as their present function transitions are full.”

Harmony Vice Chairman Alex Thomson commented, “The Harmony govt workforce of 2023 is probably the most skilled within the firm’s historical past, with the deepest bench of future leaders, making the tenth anniversary of our dedication to the corporate the perfect time for this management transition. Bob Valentine is an ingenious and resourceful govt, uniquely certified to each embrace the corporate’s legacy and navigate its huge future potential as the subsequent Chief Government of Harmony.”

Tom Whalley started his profession within the Warner Bros. Data mailroom earlier than working his approach into the label’s A&R division.

At Warner Bros., Whalley had early success with ’80’s superstars Fashionable English and The Treatment. He later joined Capitol Data as Head of A&R, the place he labored with lots of the label’s most vital acts together with Bonnie Raitt, Poison, Crowded Home, Beastie Boys and MC Hammer. Tom then co-founded Interscope Data which turned one of the profitable unbiased startups within the historical past of the music trade the place he signed such seminal artists as Tupac Shakur, 9 Inch Nails, Wallflowers, Limp Bizkit, 4 Non Blondes, Helmet, Primus and Smash Mouth.

In 2001, Whalley returned to Warner Bros. Data as Chairman and Chief Government Officer, the place he signed chart-topping artists together with Michael Buble, The White Stripes, Muse, My Chemical Romance, Avenged Sevenfold, Massive & Wealthy, Jason Derulo and Damien Rice amongst many others.

In 2012, after leaving Warner Bros. Data, he based Loma Vista Recordings, a enterprise with Common Music Group’s Lucian Grainge and Republic Data, earlier than Whalley took the label to Harmony in 2014.

Loma Vista has launched albums by artists together with St. Vincent, Little Dragon, Rhye, GHOST, Manchester Orchestra, Soundgarden, Django Unchained Soundtrack, Motion Bronson, Andrew Fowl, Frequent, Well being, Iggy Pop, Korn, Denzel Curry, Native Natives, Margo Worth, Meechy Darko, Militarie Gun, Miloe, Rise In opposition to, Robert Glasper, Sampa the Nice, Present Me The Physique, Skeggs, Soccer Mommy, Sylvan Esso and Killer Mike.Music Enterprise Worldwide