Universal Music Group goes public in seven days.
Around 60% of the world’s largest rights holder will be listed on the Amsterdam Euronext stock exchange next Tuesday (September 21), leaving current parent Vivendi with only 10% ownership of UMG.
Today (September 14), we discovered much more about the company that Universal is today, and will be tomorrow, through a prospectus published by UMG for its current and future shareholders.
In addition to key details about UMG’s finances (see our report here for that), we also learned for the first time who will be on the company’s board of directors after it is listed in Amsterdam.
Of particular interest to the music industry will be the appointment as non-executive director of James Mitchell.
Mitchell is Senior Executive Vice President and Chief Strategy Officer of Tencent Holdings Limited and a director of Tencent Music Entertainment Group, which is listed on the New York Stock Exchange.
Other names on the list include award-winning producer Judy Craymer and Antoine Fievet, president and CEO of the Bel Group cheese brand.
Below are the names of the new 10-person board from September 20, 2021, through the annual general meeting to be held in 2024:
- President and CEO and Executive Director.
Grainge is a “lord” by virtue of being knighted by the Queen of England in 2006 for his services to British business and foreign investment, as well as for his achievements in the music industry.
- Deputy General Director, Corporate and Executive Director.
Based at the company’s corporate headquarters in Hilversum, the Netherlands and reporting to Sir Lucian Grainge, UMG says that Vallejo is leading a series of corporate initiatives related to the company’s proposed listing on Euronext NV in Amsterdam.
Vallejo has worked closely on all UMG matters since joining Vivendi in 1998, most recently as Senior Vice President of Audit and Special Projects. Before joining Vivendi, Vallejo held positions at AGF-ALLIANZ France (Deputy Chief Financial Officer) and Ernst & Young Paris and Madrid.
- Chairman of the Board and Independent Non-Executive Director.
Craymer is an award-winning producer with extensive experience in the theater, film, television, and music industries. She originated the idea for MAMMA MIA! and co-founded Littlestar Services Ltd. in 1996 with Benny Andersson, Björn Ulvaeus and Richard East to produce the musical in London.
On the 2007 Queen’s Birthday Honor Roll, Craymer was honored with an MBE for her contribution to the music industry and in 2020, she received a CBE for her services to theater and charity.
- Vice Chairman of the Board and Independent Non-Executive Director.
Fievet is the president and CEO of the Bel Group cheese brand, which has 33 production plants and a distribution network that spans nearly 120 countries.
His three decades of professional experience include 20 years as CEO of Bel Group, where he has also served as president since 2009.
- Independent Non-Executive Director.
Jones is the CEO and co-founder of AllBright, a global women’s network and club of members founded in 2017.
He has over 15 years of experience in leadership positions with expertise in content, digital disruption, strategic growth, and business transformation.
Prior to founding AllBright, Jones served as CEO of Hearst Magazines UK from 2014 to 2017, where she oversaw 24 media brands. As Chief Operating Officer of Hearst Magazines UK from 2011 to 2014, she had strategic and operational responsibility for the overall business, following the acquisition and integration of Hachette Filipacchi in 2011.
Cathia Lawson-Hall is Head of Coverage and Investment Banking for Africa at Société Générale, where she oversees the general relationship and strategic consulting with governments, large corporations and financial institutions in Africa.
Previously, she served as Managing Director and Co-Director of Debt Capital Markets for companies in France, Belgium and Luxembourg.
Lawson-Hall joined Société Générale in 1999 as a financial analyst covering the telecommunications and media sectors before moving into financial consulting.
James Mitchell is Senior Executive Vice President and Chief Strategy Officer at Tencent Holdings Limited, where he has worked since July 2011.
James Mitchell has also served as chairman and non-executive director of the board of China Literature Limited since June 2017.
He is also a director of other publicly traded companies, including Frontier Developments Plc, NIO Inc., and Tencent Music Entertainment Group. He also holds managerial positions in several unlisted companies. Before joining Tencent, Mitchell was Managing Director at Goldman sachs.
Luc Van Os
Van Os is co-owner of Misset Uitgeverij, a B2B publisher of multimedia brands for the agricultural sector based in Doetenchem, the Netherlands.
He previously served for 12 years as CEO of Hearst Netherlands and its predecessors, home to titles such as Harper’s Bazaar, Elle, Quote and Cosmopolitan. Prior to serving as CEO, he held various leadership positions at Hearst and its predecessors, Hachette Filipacchi Media and Quote Media.
Margaret Frerejean as Taittinger
- Independent Non-Executive Director.
Frerejean-Taittinger is the International Development Manager for the MICHELIN Guide, the restaurant rating system that publishes its annual selections in more than 30 countries.
Prior to Michelin, she served as the director of communications and marketing for skincare company Laboratories Surface-Paris.
Doherty is Senior Vice President of GIC Pte Ltd., Singapore’s sovereign wealth fund, where he is part of the Integrated Strategies Group, which focuses primarily on equity investments and public and private debt globally.
Prior to GIC, he served as Managing Director of Mount Kellett Capital from 2011 to 2015 and Managing Director of Oaktree Capital Management from 2006 to 2011.Music business around the world