Mat Vlasic stepped down as CEO of Universal Music Group’s merchandise division Bravado on Thursday, a rep for the corporate confirmed to Selection.
The rep shared the next assertion: “Mat Vlasic knowledgeable the corporate that he’s stepping down from his position as CEO of Bravado, our international merchandising division. John Habbouch, Bravado’s Normal Supervisor and CFO, will assume interim management till a successor CEO is known as.” The information was first reported by Billboard.
A supply near the scenario tells Selection that the choice was mutual, nevertheless, most main merchandise corporations are going through steep challenges within the pandemic. UMG’s third quarter earnings report, launched earlier this week, confirmed merch and associated revenues plummeting 42.6% in comparison with the primary 9 months of 2019.
Excessive factors in Vlasic’s tenure on the helm of Bravado, which he joined from Sony Music in March of 2016, embrace the inking of a cope with the Prince property in 2017; the acquisition final 12 months of Epic Rights, which incorporates Kiss, Britney Spears, Aerosmith, *NSYNC, Def Leppard, Billy Joel and David Bowie, amongst others, on its roster; and the opening in August of the Rolling Stones’ “Flagship Retailer” in London’s Soho district.
He was with Sony Music for 13 years, rising from coordinator to supervisor to director earlier than being named vp in 2009. Previous to Sony, he held roles at Kaufman Patricof Leisure, AOL and the music company MVO. Ltd.
John Habbouch was named Bravado’s CFO in 2016 and was added basic supervisor to his position 2019.