Max Hole CBE is stepping down from his role as Chairman and Chief Executive of Universal Music Group International (UMGI), effective immediately.
In January, Hole contracted encephalitis, as a result of which he has suffered some memory loss.
While he is said to be making progress towards a recovery, a full resumption of his responsibilities is not possible at this time, said UMG.
Hole and UMG ‘will discuss projects in which Max will have continuing involvement’.
Following his departure, the company’s regional heads (for those regions outside the U.S.) will report directly to UMG Chairman and CEO, Lucian Grainge.
Hole said, “I have loved working at Universal, the best record company in the world. Lucian is an extraordinary person, both an exceptional creative and business executive for whom I have great affection.
“I have loved working at universal, the best record company in the world. Lucian is an extraordinary person.”
“We have known each other for a very, very long time and I’m so glad we remain friends. I love so many of my colleagues around the world that there are too many to name, but I’d like to mention my close friends Boyd Muir, Richard Constant, David Joseph, Frank Briegmann, Pascal Nègre, George Ash, Jesus Lopez and Andrew Kronfeld.
“Finally, there are our incredible artists, some I have been close to and some I have watched and loved from a distance. I wish our artists and Universal a hugely successful future.”
Lucian Grainge said, “Max Hole is one of the most talented and accomplished executives to have ever worked in the music business, with an undying passion for music.
“He has been one of our industry’s most effective champions, opening new markets and creating opportunities for artists and fans everywhere.
“Max’s contributions to Universal will be forever a part of the fabric of this company and our industry, and he leaves with our deepest gratitude and respect.”
Hole joined UMGI in 1998 as Senior Vice President, Marketing and A&R.
In 2004, he was promoted to Executive Vice President and subsequently added responsibility for Digital, Strategic Marketing and Commercial Affairs, as well as Asia Pacific and Nordic/Central/Eastern Europe. He was appointed COO of UMGI in 2010 and in 2013 was appointed Chairman and CEO of UMGI.
“Max’s contribution to universal will be forever a part of the fabric of this company and our industry.”
Lucian Grainge, UMG
Hole began his music industry career as an independent artist manager and record producer. In 1982, he joined Warner Music UK as A&R Manager, rising to Managing Director of WEA Records and, in 1990, founding Managing Director of East West Records.
During his 16 years at the company, he was involved with such successful artists as Simply Red, Tori Amos, Pretenders, Sisters of Mercy, Chris Rea and the Corrs, among many others.
Hole was recognized in the Queen’s 2015 Birthday Honours List and awarded Commander of the Most Excellent Order of the British Empire (CBE) for his service to the music industry.Music Business Worldwide