Another major name is exiting Universal Music Group as The New York Times reports that UMG Publishing Chairman/CEO David Renzer announced his departure in a memo to staff members on tuesday. He gave no specific reason other than that he was interested in ‘devoting more time to the nonprofit, charity and philanthropic areas I have long valued, as well as some potentially exciting entrepreneurial options.’ Zach Horowitz, Universal’s President/COO will run the publishing division until a replacement is named.”
Renzer’s exit follows those of longtime UMG CEO/Chairman Doug Morris, who exited in march to become CEO at Sony Music, and Island Def Jam Chairman Antonio “L.A.” Reid, who resigned to be a judge in Simon Cowell’s upcoming singing competition, “The X Factor.”
