London - Major record label EMI announced on Monday that it has named Elio Leoni-Sceti, former executive vice president of Europe for consumer brand company Reckitt Benckiser, as its new chief executive of EMI Music. Entrepreneur Guy Hands, who has served as CEO since his private equity firm Terra Firma acquired EMI for $4.7 billion last May, will step back to become non-executive chairman of EMI.

"I am delighted that Elio is joining as Chief Executive of EMI Music to lead the most exciting business transformation in the music industry," said Guy Hands.

"His career achievements and outstanding leadership qualities are ideally suited to ensuring that EMI is a successful business. Elio has the passion, drive and belief in the future of the music industry to realize the ambitions we all have for EMI."

Before his 16-year career with Reckitt Benckiser, the 42-year-old Leoni-Sceti was a brand manager at Procter & Gamble.

Related Links:
http://www.emigroup.com/Press/2008/press81.htm