{"id":225762,"date":"2025-03-10T12:02:06","date_gmt":"2025-03-10T12:02:06","guid":{"rendered":"https:\/\/www.musicbusinessworldwide.com\/?p=225762"},"modified":"2025-03-10T12:33:16","modified_gmt":"2025-03-10T12:33:16","slug":"manning-doherty-to-exit-board-of-universal-music-group","status":"publish","type":"post","link":"https:\/\/www.musicbusinessworldwide.com\/manning-doherty-to-exit-board-of-universal-music-group\/","title":{"rendered":"Manning Doherty to exit board of Universal Music Group"},"content":{"rendered":"

Universal Music Group announced Monday (March 10) that non-executive director Manning Doherty<\/a> will step down from the company\u2019s board, effective March 21.<\/p>\n

Doherty, a managing director at Singapore’s sovereign wealth fund GIC Pte Ltd.<\/b>, has served<\/a> on Universal’s board since the company’s public listing<\/a> on Euronext Amsterdam in 2021.<\/p>\n

Universal Music Group<\/b>, which represents artists like Taylor Swift, Lady Gaga, Billie Eilish and Drake, did not specify reasons for Doherty\u2019s departure.<\/p>\n

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As head of GIC’s North American infrastructure group, Doherty brought extensive experience in private equity and special situation investing to UMG\u2019s board.<\/p>\n

Prior to GIC, Doherty served as Managing Director of Mount Kellett Capital <\/b>and Managing Director of Oaktree Capital Management<\/b>.<\/p>\n

Doherty\u2019s exit marks the latest across UMG\u2019s operations following the retirement<\/a> of Adam<\/b> Holt<\/b> as Managing Director and Chairman of Universal Music New Zealand<\/b>.<\/p>\n

Earlier this year, Cindy<\/b> Mabe<\/b> stepped down<\/a> as CEO of Universal Music Group Nashville<\/b>. In September 2024, David<\/b> Joseph<\/b>, the long-time Chairman and CEO of Universal Music UK<\/b>, left<\/a> the company after 26 years.<\/p>\n

<\/div> <\/div> <\/p>\n

These developments come as UMG continues to grow its business. It recently acquired an independent music company in the Netherlands, 8Ball<\/b> Music<\/b><\/a>, whose signed artists include\u00a0Miss Montreal<\/b>,\u00a0DI-RECT<\/b>,\u00a0Davina Michelle<\/b>,\u00a0Dotan<\/b>, and\u00a0Maan<\/b>.<\/p>\n

Less than a month ago, UMG acquired<\/a> a majority stake in Japanese music company A-Sketch<\/b>, home to popular Japanese artists including\u00a0Saucy Dog, Flumpool,\u00a0<\/b>and\u00a0Ayumu Imazu.<\/b><\/p>\n

UMG Chairman and CEO Sir Lucian Grainge <\/b>noted<\/a> in his New Year note to UMG staff that in 2025, the company \u201cwill continue to aggressively grow [its] presence in high potential markets through organic A&R, artist and label services agreements, and M&A\u201d.<\/p>\n

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In FY 2024, UMG\u2019s recorded music subscription revenues rose 9.1% YoY <\/b>to EUR \u20ac4.624 billion<\/b> ($5 billion at the average exchange rate for 2024). In Q4, the company\u2019s top global recorded music sellers included Taylor Swift, Sabrina Carpenter, Billie Eilish, Chappell Roan, <\/b>and Wicked: The Soundtrack.<\/i><\/b><\/p>\n

UMG remains the industry leader, holding a market share of 31.8%<\/b> in 2023 in terms of physical and digital music sales worldwide, according to data<\/a> from Statista.<\/p>\n","protected":false},"excerpt":{"rendered":"

Doherty has served on Universal\u2019s board since the company\u2019s public listing on Euronext Amsterdam in 2021<\/p>\n","protected":false},"author":38,"featured_media":209773,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[133790,122,269],"class_list":["post-225762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-manning-doherty","tag-universal-music","tag-universal-music-group"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/225762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/comments?post=225762"}],"version-history":[{"count":0,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/225762\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media\/209773"}],"wp:attachment":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media?parent=225762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/categories?post=225762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/tags?post=225762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}