Boyd Muir, executive vice president, chief financial officer and chief operating officer of Universal Music Group, has been promoted to the newly created role of chief operating officer of Universal Music Group.
The news was announced today (October 31) alongside the company’s third-quarter financial results, in which UMG reported revenue of 2.870 billion euros ($3.15 billion), up Annual increase of 4.9% Calculated at a fixed exchange rate.
Muir will continue to report directly to UMG Chairman and Chief Executive Officer, Sir Lucian Grange.
The company said today it was “immediately initiating an executive search process” to hire a new chief financial officer.
Muir will serve as chief operating officer and chief financial officer until a new chief financial officer is appointed.
According to Universal, Muir played a central role in “the reshaping of the company’s resources from physical to digital.”
He was also involved in a number of acquisitions, including Sanctuary Group and V2 Music Group, as well as the company’s successful acquisition of EMI.
Muir was appointed to his current position in November 2010.
Muir worked at Ernst & Young, including its London-based entertainment media division, from 1984 to 1991, and at EMI from 1991 to 1994.
In the latter team, he served as head of internal audit, spending considerable time in Los Angeles and New York. He was also closely involved in EMI’s acquisitions of Virgin Music and Chrysalis Records.
Photo credit: Austin Hargrave
“Boyd has done an outstanding job leading UMG’s global finance function through a period of unprecedented growth and change, including our successful listing on Euronext in 2021 and our past three years as an independent listed company.”
Sir Lucian Grange
Sir Lucian Grainge said: “Boyd has done an outstanding job leading UMG’s global finance function through a period of unprecedented growth and change, including our successful listing on Euronext in 2021 , and our past three years as an independent public company.
He added: “Now, as we turn to execute on the vision we outlined at our recent Capital Markets Day, as COO, Boyd will focus on helping us drive transformation across several key businesses around the world to ensure we deliver on our target strategic plan.
