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Universal Music Publishing Loses CEO

SANTA MONICA, CA (VIP NEWS) — Universal Music Publishing Group Chairman and CEO David Renzer has announced his plans to exit the company.

He has been with the publisher 15 years, starting in 1996 with MCA Music Publishing. Renzer was promoted to his current post in 2004.

He shared the news of his departure with staffers today via a lengthy email. He says in the letter that he always viewed age 50 as a milestone, and now at age 51 he wants to devote more time to philanthropic endeavors and “exciting entrepreneurial options.”

“For 15 years I’ve worked 24/7 to build UMPG into the industry’s leading music publishing company,” Renzer told MusicRow. “During that time, I shepherded the company through the purchases of Polygram, Rondor and BMG Music—three of the biggest acquisitions in the history of the music publishing industry.

I worked hard to recast and expand the role of the music publisher, and to collaborate with our companies around the globe in confronting the challenges facing our industry. With UMPG now the industry leader globally, and with an executive team that I believe is second to none, the time feels right to now enjoy more time with family and explore other personal and professional activities. I leave UMPG knowing that the company remains in great hands, with a remarkable catalog and artist roster. I will treasure the relationships I’ve built over the years, with executives and songwriters. This has truly been the most fulfilling work experience of my career.”

The official response from UMG is, “David has informed us that after 15 years running UMPG, a period of remarkable growth for the company which saw it become the industry leader, it is time for him to re-balance his life, spend more time with his family, and concentrate on personal priorities. While we are sorry to see him go, we respect his decision. David has done a monumental job running the company, and we will miss his dedication, creativity, vision and work ethic. UMPG is now an industry leader in Pop, Urban, Latin, Country, Classical, Christian and Production music–with an incredible team of executives around the world. We are poised for exciting growth and creative excellence in the years to come.”