LONDON (CelebrityAccess) – Kobalt Music Group founder Willard Ahdritz is stepping down from his post as CEO of Kobalt and into a new role as Chairman.
Ahdritz will be succeeded by Laurent Hubert with the change taking place later this week.
Hubert joined Kobalt in 2016 from BMG where he served as President of Marketing & Creative. In 2017, he was promoted to President & Chief Revenue Officer at Kobalt, succeeding Richard Sanders.
Following the change, Ahdritz will reportedly continue to have an active role at Kobalt in addition to maintaining significant voting rights given his personal shareholdings in the company, according to Music Business Worldwide.
Kobalt Music Group, the umbrella for Kobalt’s publishing and neighboring rights companies as well as its recorded music services arm, AWAL, currently operates 14 offices and employs upwards of 750 people globally. Kobalt also runs a global digital collection society, AMRA, and manages a fund for private and institutional investors called Kobalt Capital Ltd, for which Ahdritz reportedly remains Chief Investment Officer (CIO).