LONDON (VIP-NEWS) — PRS for Music UK has announced that its chief executive Steve Porter is standing down this Friday.
Although the wording of the announcement makes it sound like he’s been stood down: “The Boards feel that as the business faces new challenges, a new set of skills is required to take PRS for Music forward”.
The body is kicking off a search for a new chief executive, with MCPS managing director Jeremy Fabinyi stepping in as interim/acting chief executive in the meantime. PRS says it will be canvassing both internal and external candidates for the new role.
Porter has worked at PRS for Music for ten years, starting as director of finance in 1999, before becoming executive director of finance, then managing director, and then chief executive in April 2007. It remains to be seen whether Porter’s departure speeds up or holds up ongoing negotiations – for example with YouTube – over music licensing.