John Janick To Succeed Jimmy Iovine As Chairman & CEO Of Interscope Geffen A&M

John Janick To Succeed Jimmy Iovine As Chairman & CEO Of Interscope Geffen A&M

PR Newswire

SANTA MONICA, Calif., May 28, 2014

SANTA MONICA, Calif., May 28, 2014 /PRNewswire/ --Universal Music Group
(UMG), the world's leading music company, announced today that John Janick,
COO and President of Interscope Geffen A&M (IGA),will succeed Jimmy Iovine as
Chairman and CEO of IGA later this year. As separately announced today,
Iovine, who founded the Interscope label in 1989 and later co-founded Beats
Electronics in 2008, will join Apple® when it closes its acquisition of Beats.
The transaction is expected to close in Apple's fiscal fourth quarter (which
closes in September), subject to regulatory approval.

Lucian Grainge, Chairman and CEO of UMG, said, "I'm thrilled to announce John
Janick's promotion to Chairman and CEO of IGA. Sincecoming to UMG nearly two
years ago, he has consistently shown why he iswidely regardedas one of the
most talented, innovative and entrepreneurial executives in the music business
todayandwill be akey player in the future generation of industry leaders.
John is the ideal executive to be writing the next chapter in IGA's
illustrious history."

Grainge continued, "What Jimmy has done for IGA and UMG is immeasurable. I
cannot express howenormously grateful I am for bothhis partnership and his
friendship. While we will miss him as a member of the UMG family, with his
appointment at Apple,Jimmy will now bein a positionto expand and extend his
singular vision and talent, the result of which will, undoubtedly, accelerate
the growth of theentire music industry. We look forward to the next exciting
phase of Jimmy's extraordinary career asthat special creative spark Jimmy
brings to whatever he touches leads to innovations and advances in
entertainment and technology that willdelight music fans around the world."

Iovine said, "John Janick has exactly what it takes to lead Interscope Geffen
A&M: he started his own label, he understands the art of making records and
the unique dynamic between a record label and artist, as well as the enormous
responsibility that comes with representing one of the greatest artist rosters
ever assembled.It's always been so important to me to be able to identify and
train the right successor, so I'm thrilled to have found John Janick.And
during the last few years, as I was preparing John to take the reins, Lucian
Grainge was transforming UMG, a transformation that made it possible for me to
make this transition knowing that Interscope is in good hands."

Janick said, "To have been able to work alongside Jimmy Iovine and contribute
to the current success of Interscope Geffen A&M--three of the most storied
brands in music—has been an extraordinary privilege. Now to be appointed
Jimmy's successor and be in a position to carry on his tradition of creative
excellence and innovation is a truly humbling honor. I want to thank Lucian
and Jimmy for their belief in me and for fostering an environment that values
artistry and entrepreneurship above all else."

Janick, who joined IGA in October 2012 and took over the day-to-day management
responsibilities of the company, has enjoyed a highly successful partnership
with Iovine. Recently, IGA realized industry-leading commercial and creative
success. From 2012 to 2013, IGA achieved a 1.04% increase in current US album
(plus TEA) market share according to Nielsen SoundScan, the greatest increase
in current share for any UMG label during the period. The strong results have
been driven by a series of new and established artist successes across a wide
variety of genres. Among the many achievements were platinum and
multi-platinum-selling releases by Eminem, Imagine Dragons, Lady Gaga,
Kendrick Lamar, Lana Del Rey, Maroon 5, Phillip Phillips and Robin Thicke.

ABOUT JOHN JANICK
John Janick began his music business career when in 1996 he co-founded Fueled
By Ramen in his dorm room while an 18-year-old freshman at the University of
Florida. Over the next few years, the small indie label grew even as Janick
earned a B.A. in Finance and Business Management and then an M.B.A. at the
University of South Florida. In 2003, the label achieved a breakthrough hit
with the release of Fall Out Boy'sTake This To Your Grave, the band's first
gold album. Other successes at the label included the platinum-sellingA
Fever You Can't Sweat Outby Panic! at the Disco and Paramore's platinum
album,Riot! In 2010, Janick signed platinum-selling rock band, fun. The
following year Janick was tasked with re-launching the iconic Elektra label
for Warner Music Group in addition to continuing his role as head of Fueled By
Ramen. During his tenure at Elektra, he oversaw the global success of artists
including Bruno Mars and Cee Lo Green, among others. In October 2012 he was
appointed COO and President of Interscope Geffen and A&M and led a
company-wide restructuring which in turn not only resulted in a string of
creative successes but led to the company's achieving one of its most
profitable years in a decade.

ABOUT INTERSCOPE GEFFEN A&M
Combining the legacies of three of the most influential record labels in
modern music history, Interscope Geffen A&M embarked on a new tradition of
musical achievement with its unification onJanuary 1, 1999. Interscope
Geffen A&M is a major force in global music, developing chart-topping artists
across a wide range of musical genres including rock, rap, pop and
alternative. Interscope Geffen A&M is part of Universal Music Group, the
world's leading music company.

ABOUT UNIVERSAL MUSIC GROUP
Universal Music Group is the global music leader, with wholly owned operations
in 60 territories. Its businesses also include Universal Music Publishing
Group, one of the industry's premier music publishing operations worldwide.

Universal Music Group's labels include A&M Records, Angel, Astralwerks, Blue
Note Records, Capitol Christian Music Group, Capitol Records, Capitol Records
Nashville, Caroline, Decca, Def Jam Recordings, Deutsche Grammophon, Disa,
Emarcy, EMI Records Nashville, Fonovisa, Geffen Records, Harvest, Interscope
Records, Island Records, Machete Music, Manhattan, MCA Nashville, Mercury
Nashville, Mercury Records, Motown Records, Polydor Records, Republic Records,
Universal Music Latino, Verve Music Group, Virgin Records, Virgin EMI Records,
as well as a multitude of record labels owned or distributed by its record
company subsidiaries around the world. The Universal Music Group owns the most
extensive catalogue of music in the industry, which includes the last 100
years of the world's most popular artists and their recordings. UMG's
catalogue is marketed through two distinct divisions, Universal Music
Enterprises (in the U.S.) and Universal Strategic Marketing (outside the
U.S.). Universal Music Group also includes Global Digital Business, its new
media and technologies division and Bravado, its merchandising company.

Universal Music Group is a fully owned subsidiary of Vivendi.

SOURCE Universal Music Group

Website: www.universalmusic.com
Contact: Maria Ho-Burge, 212 331 2569, maria.ho-burge@umusic.com, or Annie
Imamura, 310 865 6157, annie.imamura@umusic.com
 
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