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UMG Appoints Former Verizon Exec Matt Ellis Chief Financial Officer

UMG appoints Matt Ellis, formerly at Verizon, to be its new chief financial officer.

“With Matt in place, Boyd can accelerate his efforts to execute on a range of strategic growth initiatives in addition to supporting me in the day-to-day management of many of our global corporate and divisional functions.” Ellis will be tasked with overseeing the global financial operations at UMG at a time when the streaming subscription revenues that powered rocketing growth for many music companies is beginning to slow. As senior vice president and treasurer, he was closely involved in Verizon’s $130 billion deal to buy out Vodafone Group’s stake in the U.S. wireless business in 2014, overseeing the the $61-billion in debt component.

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