Report: Doug Morris to Step Down as Universal Music CEO

Authored by Mark Hefflinger on November 3, 2009 - 8:02am.

New York - Universal Music Group chairman and chief executive Doug Morris intends to step down from his CEO role next summer, BusinessWeek reports. The company is reportedly grooming international CEO Lucian Grainge to replace Morris, 71, who is expected to remain chairman of the world's largest record label.

Sources also told BusinessWeek that Morris "will continue to work on key projects for Universal, but will turn over day-to-day operations."

Morris became president of Atlantic Records in 1980, and later led Warner Music and MCA Records -- which eventually became Universal, and acquired Polygram.

Grainge has led Universal Music's international unit since 2005; he previously worked at Polygram, and started off in the business in 1978 as an A&R executive at CBS Records.

Related Links:
http://snipurl.com/t1kqg (BusinessWeek)

http://www.vivendi.com/corp/en/governance/dir_morris.php