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The number one UK music publisher has made its general manager redundant, highlighting the tough state of the publishing business.
EMI Music Publishing chairman and CEO Peter Reichardt announced last week that his longstanding lieutenant Sally Perryman is leaving the company. The pair had worked together for more than 15 years.
In a statement issued last Tuesday, Reichardt says, "This decision was made after very careful consideration and reflects the extremely difficult market that we are trading in at the present time. I have nothing but respect for Sally and the contribution she has made to the company."
Reichardt says that the decision to make Perryman's role redundant--as executive vice president, creative, and general manager--was not connected to the 5% staff reduction which was announced as part of last week's EMI interim results.
"We are number one in the UK, but we exist in a global market ...