Capitol Music Group chairman/CEO Steve Barnett has announced his retirement, effective Dec. 31, 2020, the company announced today (Nov. 5). Barnett, a 50-year veteran of the music business, had spent the past eight years at the helm of the Universal Music Group-owned company, which he joined in 2012 after a stint as chairman of Columbia.
As part of the announcement, Barnett announced that current Capitol Records president Jeff Vaughn and current Capitol Music Group COO Michele Jubelirer will take over atop the company. Vaughn will serve as chairman/CEO of CMG, while Jubelirer will become president/COO of CMG.
“This has been an incredible journey, and I’ve been tremendously fortunate to work with such amazing people along the way,” Barnett said in a statement. “I am indebted to Lucian for his unwavering belief in me and for his unreserved support for our efforts these entire eight years. To say that I will always be grateful to him is truly an understatement. Michelle was the first to join me at CMG and has been my partner in revitalizing the company and creating an environment where artists and our employees could thrive. From the moment Jeff joined us, I knew he’d quickly make his mark on Capitol, and I’m certain that he and Michelle are the perfect team to guide CMG into the future. My appreciation extends to Boyd Muir and my many friends at UMG who have been there for me and my team these past eight years. I thank you all.”
