Martijn Tel has been appointed as the new treasurer of US performing rights organization BMI.
Tel reports to President and Chief Executive Officer Mike O’Neill and will be a member of the company’s executive leadership team. Phone lines will be located at BMI’s New York office.
He replaces former financial officer of BMI Bruce Esworthy, He announced his retirement in March and officially resigned at the end of June.
BMI noted on Wednesday (September 4) that Tel has extensive experience in senior financial positions at public and private companies.
Most recently, he served as Chief Financial Officer of the Gerson Lehrman Group [GLG]is a global data and information services provider backed by private equity firm SFW Capital Partners.
While at GLG, he led a “financial transformation that enabled the leadership team to better understand performance across businesses, geographies and clients,” according to BMI.
The “finance transformation” he led also included “enhanced automation and upgraded systems, including the implementation of an enterprise data management system.”
According to BMI, Tel previously held financial chief and operating positions at various companies in the information services industry and worked with a number of private equity sponsors.
Born in the Netherlands, he holds two finance degrees from Vrije Universiteit Amsterdam.
In his new role, Tel joins two other recent senior appointments to the BMI leadership team, whose appointments were announced in July: Chief Technology Officer Tom Kershaw and chief transformation officer Justin Lord.
BMI said all three executives “will be integral” as the company continues to implement its “strategic growth plans to strengthen support for creators and find new revenue streams for them.”
BMI charges a blanket licensing fee to businesses using music whose tracks exceed 22 million musical composition. The company transitioned to a for-profit business model in 2022.
PRO recently completed its sale to a shareholder group led by: New Mountain Capital, among which Former BMI shareholders, which include several US broadcasters, received huge payouts.
“Martijn has extensive experience, particularly working with companies with ambitious growth plans, which now makes him a perfect fit for BMI.”
Mike O’Neill, BMI
“Martijn has extensive experience, particularly working with companies with ambitious growth plans, which makes him a perfect fit for BMI now,” said O’Neill.
“I look forward to working with him and our team to continue implementing strategic initiatives designed to deliver on BMI’s mission of increasing the value of music for our creators and rights holders.”global music business
