Get the latest gossip

Utopia Music C-Suite Shakeup: New CEO and Leadership Team Installed at Swiss Company

Alain Couttolenc is out as chief executive after roughly three months, replaced by Michael Stebler. Pedro Lima joins as chief operating officer.

Stebler’s appointment as CEO is his first executive post with Utopia, although he has held close ties with the company for several years through his role as managing director of Investment Advisors Zug AG, which operates on behalf of the majority shareholder group. The funds will be used to drive commercial growth, enhance product development and strengthen the company’s balance sheet, says the newly appointed CEO, who steps down from his role with Investment Advisors with immediate effect to focus on Utopia.. More layoffs followed soon after, along with multiple executive departures, office closures, legal action over a stalled acquisition deal, late payments to staff, and the offloading of three of its businesses — Absolute Label Services, U.S.-based music database platform ROSTR and U.K.-based publisher Sentric.

Get the Android app