UMG Names Lucian Grainge Chairman and CEO

Universal Music Group has given CEO Lucian Grainge the additional title of Chairman. Today’s announcement was made by UMG’s parent company Vivendi.
Grainge continues to report to Vivendi CEO Jean-Bernard Levy. He also continues as a member of the Vivendi management board, the company said in a statement.
This news follow last week’s official departure of former UMG Chairman Doug Morris. Morris was named CEO of competitor Sony Music.
More on Grainge’s background here.