Universal Music Group (UMG) has announced Max Hole will be stepping down from his role as Chairman and Chief Executive of Universal Music Group International (UMGI), effective immediately. Following the departure, the company’s regional heads (for those regions outside the U.S.) will report directly to UMG Chairman and CEO, Lucian Grainge.
The resignation is a result of contracting encephalitis in January. He has suffered some memory loss and while he is making progress towards a recovery, a full resumption of his responsibilities is not possible at this time. Continuing involvement is being discussed at this time.
In making the announcement, 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. 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.”
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.
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