Hey there fellow gamers! Just wanted to share some exciting news from my gaming world – Universal Music Group! They’ve appointed Matt Ellis as their new Chief Financial Officer, taking over from Boyd Muir who’s now fully embracing his role as the Chief Operating Officer. Boyd got promoted last year and this is him stepping into his new duties in full swing. It’s a big move for our gaming soundtracks and I can’t wait to see what they’ll accomplish together!
Ellis is transitioning from Verizon Communications, where he held the position of Executive Vice President and Chief Financial Officer for ten years. Prior to that, he was the Vice President and Treasurer at Tyson Foods. Muir has been UMG’s CFO since 2010, and last October, he was appointed as both COO and retained those roles until a successor was found. Ellis will begin his role at UMG on June 9th.
In our ongoing development and broadening the scope of what it means to be a music entertainment company, we sought an executive with a comprehensive international perspective and robust financial knowledge across various sectors such as media, technology, and consumer goods. We found that individual in Matt. Having Matt on board allows Boyd to speed up his work on numerous strategic growth projects, while also assisting me in the daily administration of several global corporate and divisional roles.” (Lucian Grainge’s statement)
The decision was made two weeks ago, following the release of UMG’s Q1 2025 earnings showing a total revenue of $3.3 billion. Notably, the recorded music division saw a growth of 12.7%.
Sir Lucian and his management group have constructed an exceptional global company that not only dominates the market, but is also shaping the future of the industry,” Ellis stated. “I’m thrilled to be joining Universal Music Group now and assist in achieving the ambitious commercial and financial objectives they have set forth.
Muir stated, “Matt joins us with not just his extensive financial expertise, but also a keen insight into the intricacies of global businesses undergoing transformation within various industries. I’m thrilled to have Matt onboard and excited about our collaboration as we prepare UMG for further growth.
Ellis’s recruitment marks a significant development over the past few months for the globe’s leading music company. In February, UMG Nashville appointed Mike Harris as CEO, replacing Cindy Mabe, and the company underwent a rebranding to Music Corporation of America in April. Simultaneously, Interscope has resurrected the country label Lost Highway Records, with Kacey Musgraves being its first new signing.
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2025-05-12 19:58