James Ashton, The Sunday Times
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EMI, the troubled music group, is close to appointing a little-known Italian executive from the consumer goods industry to run its recorded music division.
Guy Hands, chairman at EMI, is in the process of poaching Elio Leoni Sceti from Reckitt Benckiser, the consumer products giant behind brands such as Cillit Bang, Veet hair remover and Finish dishwasher tablets.
His arrival as chief executive of the division will send a shiver down the spine of artists wary of yet another executive joining the company from outside the industry.
However, Mr Sceti has a strong background in marketing honed at Procter & Gamble in Italy and France. His background mirrors that of former EMI chief executive Eric Nicoli, who ran United Biscuits before joining the music group.
EMI, home to artists including Coldplay, Robbie Williams and KT Tunstall, had been searching for a new chief executive, but is thought to have decided that a better operating structure would leave Roger Faxon as head of EMI’s music publishing operation working side by side with Mr Sceti.
Mr Hands, whose Terra Firma investment vehicle paid £3.2 billion for EMI last year, is expected to remain as chairman to keep a close eye on one of his biggest investments.
The company is close to completing a restructuring that has taken more than 1,500 jobs out of the recorded music division. Mike Clasper, the former BAA boss who was running group operations for EMI, announced his departure this week. He has been appointed chairman of HM Revenue & Customs.
Mr Sceti, 42, has spent 16 years with Reckitt. He was promoted two years ago to the role of executive vice president for Europe, after serving in various marketing roles and as general manager for Germany and Italy.
The company has enjoyed recent success with the release of Coldplay’s new album. Viva La Vida sold 300,000 copies in three days and debuted at the top of the US album charts.
However, its financial performance has been mixed and lenders Citigroup have been unable to sell on £2.5 billion of company debt.
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