James Ashton, The Sunday Times
Win a fitness package worth more than £3,000
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.
Industry sectors news at a glance. Interactive heatmap, video and podcast
The inside track on current trends in the charity, not for profit and social enterprise sectors
Read our exclusive 100 Years of Fleming and Bond interactive timeline, packed with original Times articles and reviews
Everything the Business Traveller needs to know to make a better trip
Shortcuts to help you find sections and articles
05/2005
£13,500
08/2008
£109,950
2006
£10,750
Great car insurance deals online
£Excellent+ executive benefits
Torres and Partners
London
£49,229 - £62,035 pro rata
Charity Commission
London/Liverpool/Taunton
Alstom Power
Europe
Six Figure
Rolls Royce
Midlands/Europe
From £89,950
Great Investment, River Views
Special Offers now available
At the new sophisticated
Encore Las Vegas Resort!
Cruise the Islands of Hawaii - Pride of America
List your property with two leading travel websites
Great travel insurance deals online
Contact our advertising team for advertising and sponsorship in Times Online, The Times and The Sunday Times, or place your advertisement.
Times Online Services: Dating | Jobs | Property Search | Used Cars | Holidays | Births, Marriages, Deaths
News International associated websites: Globrix | Property Finder | Milkround
Copyright 2008 Times Newspapers Ltd.
This service is provided on Times Newspapers' standard Terms and Conditions. Please read our Privacy Policy.To inquire about a licence to reproduce material from Times Online, The Times or The Sunday Times, click here.This website is published by a member of the News International Group. News International Limited, 1 Virginia St, London E98 1XY, is the holding company for the News International group and is registered in England No 81701. VAT number GB 243 8054 69.