Former ITV boss Charles Allen takes helm at EMI

Music group EMI today named former ITV boss Charles Allen as executive chairman as the firm battles to improve its fortunes.

The group, which counts Robbie Williams and Coldplay among its artists, said Mr Allen would take on the combined role as current music chief executive Elio Leoni-Sceti prepares to leave at the end of March.



Mr Allen took on the role of non-executive chairman in January and today promised to ensure the firm has "a great future".



EMI, which is owned by private equity company Terra Firma, has seen its finances strained by difficult trading since it was taken over in 2007.



It posted a £1.75 billion loss for the year to March 2009 in accounts released last month after suffering more than £1.1 billion in one-off write-downs and restructuring charges.



Mr Allen, 53, was executive chairman of Granada from 2001 to 2004 and then chief executive of ITV until 2007.



He was at the ITV helm during the merger of Granada and Carlton that created the broadcaster, but his tenure was also slammed for its lack of creative leadership.



His successor Michael Grade said some of ITV's shows were "creatively bankrupt" after he took over, while regulatory controls placed on the company following the tie-up caused a fear of ratings failure.



Today Mr Allen said his goals for the EMI music business remained the same as his predecessor.



"I will support and guide the group's strong team, keep EMI's focus on creativity and superb A&R, and deliver a digital platform," he said.



"This is a great business - our task is to ensure it has a great future."



EMI said Mr Leoni-Sceti had successfully led the company through the "first phase of its operational turnaround".



"Over the past two and a half years, EMI Music has become a stronger and growing company, with a talented senior team, significant creative success and a more rigorous approach to marketing and operations," the firm said.



It said sales were up as a result, while market share had also improved and EMI grew underlying profits during the year to last March.



But the new boss has several challenges ahead as EMI presses on with recovery plans.



EMI cut more than 2,000 jobs in 2008 and recent reports have suggested cost cuts aimed at stripping millions from the business are in the offing.



Terra Firma took on huge debts when it bought the firm for £4.2 billion three years ago and it is thought to be in danger of breach lending terms without further investment - handing control to lender Citigroup.



The music firm is also currently engaged in legal action against Citigroup, claiming the group "misrepresented fundamental facts" over the sale of EMI.



It alleges Citigroup falsely said there were other bidders for the record company, causing it to raise its bid. Citigroup denies the allegations.

PROMOTED VIDEO
Arts and Entertainment
Robert De Niro, Martin Scorsese and DiCaprio, at an awards show in 2010
filmsDe Niro, DiCaprio and Pitt to star
News
i100
News
In this photo illustration a school student eats a hamburger as part of his lunch which was brought from a fast food shop near his school, on October 5, 2005 in London, England. The British government has announced plans to remove junk food from school lunches. From September 2006, food that is high in fat, sugar or salt will be banned from meals and removed from vending machines in schools across England. The move comes in response to a campaign by celebrity TV chef Jamie Oliver to improve school meals.
science
Sport
England captain Wayne Rooney during training
FOOTBALLNew captain vows side will deliver against Norway for small crowd
Life and Style
Red or dead: An actor portrays Hungarian countess Elizabeth Báthory, rumoured to have bathed in blood to keep youthful
health
News
peopleJustin Bieber charged with assault and dangerous driving after crashing quad bike into a minivan
News
ebooksAn unforgettable anthology of contemporary reportage
News
peopleHis band Survivor was due to resume touring this month
News
people'It can last and it's terrifying'
Life and Style
fashionModel of the moment shoots for first time with catwalk veteran
Sport
Radamel Falcao poses with his United shirt
FOOTBALLRadamel Falcao's journey from teenage debutant in Colombia to Manchester United's star signing
Life and Style
fashionAngelina Jolie's wedding dressed revealed
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Front-Office Developer (C#, .NET, Java,Artificial Intelligence)

£30000 - £45000 per annum + benefits+bonus+package: Harrington Starr: Front-Of...

C++ Quant Developer

£700 per day: Harrington Starr: Quantitative Developer C++, Python, STL, R, PD...

Java/Calypso Developer

£700 per day: Harrington Starr: Java/Calypso Developer Java, Calypso, J2EE, J...

SQL Developer

£500 per day: Harrington Starr: SQL Developer SQL, C#, Stored Procedures, MDX...

Day In a Page

Chief inspector of GPs: ‘Most doctors don’t really know what bad practice can be like for patients’

Steve Field: ‘Most doctors don’t really know what bad practice can be like for patients’

The man charged with inspecting doctors explains why he may not be welcome in every surgery
Stolen youth: Younger blood can reverse many of the effects of ageing

Stolen youth

Younger blood can reverse many of the effects of ageing
Bob Willoughby: Hollywood's first behind the scenes photographer

Bob Willoughby: The reel deal

He was the photographer who brought documentary photojournalism to Hollywood, changing the way film stars would be portrayed for ever
Hollywood heavyweights produce world's most expensive corporate video - for Macau casino

Hollywood heavyweights produce world's most expensive corporate video - for Macau casino

Scorsese in the director's chair with De Niro, DiCaprio and Pitt to star
Angelina Jolie's wedding dress: made by Versace, designed by her children

Made by Versace, designed by her children

Angelina Jolie's wedding dressed revealed
Anyone for pulled chicken?

Pulling chicks

Pulled pork has gone from being a US barbecue secret to a regular on supermarket shelves. Now KFC is trying to tempt us with a chicken version
9 best steam generator irons

9 best steam generator irons

To get through your ironing as swiftly as possible, invest in one of these efficient gadgets
England v Norway: Wayne Rooney admits England must ‘put on a show’ to regain faith

Rooney admits England must ‘put on a show’ to regain faith

New captain vows side will deliver for small Wembley crowd
‘We knew he was something special:’ Radamel Falcao's journey from teenage debutant to Manchester United's star signing

‘We knew he was something special’

Radamel Falcao's journey from teenage debutant to Manchester United's star signing
'I’ll tell you what I would not serve - lamb and potatoes': US ambassador hits out at stodgy British food served at diplomatic dinners

'I’ll tell you what I would not serve - lamb and potatoes'

US ambassador hits out at stodgy British food
Radio Times female powerlist: A 'revolution' in TV gender roles

A 'revolution' in TV gender roles

Inside the Radio Times female powerlist
Endgame: James Frey's literary treasure hunt

James Frey's literary treasure hunt

Riddling trilogy could net you $3m
Fitbit: Because the tingle feels so good

Fitbit: Because the tingle feels so good

What David Sedaris learnt about the world from his fitness tracker
Saudis risk new Muslim division with proposal to move Mohamed’s tomb

Saudis risk new Muslim division with proposal to move Mohamed’s tomb

Second-holiest site in Islam attracts millions of pilgrims each year
Alexander Fury: The designer names to look for at fashion week this season

The big names to look for this fashion week

This week, designers begin to show their spring 2015 collections in New York