Picture Credit: Downtown Music Holdings
Previous CD Baby CEO Tracy Maddux has actually suddenly stepped down from his function as Downtown Music Holdings’ primary business officer (CCO).
Downtown simply recently revealed the unforeseen executive departure, which is “reliable instantly.” Maddux led CD Baby for over a years before signing on in October of 2020 as CCO of Downtown, which had actually acquired the indie supplier in 2019.
Now, a little over 3 years later on, Maddux is no longer part of Downtown, as at first discussed. The exact factors behind the advancement are uncertain; Maddux reposted Downtown-related news on LinkedIn just days earlier, however had not penned a post on his exit at the time of this writing.
The declaration Maddux offered for Downtown’s official release appears light on concrete information and any sign of the next action in his profession.
“It has actually been an amazing journey at Downtown, and I take pride in whatever we have actually accomplished together,” passed onMaddux. “From the tactical sale of CD Baby, AdRevand DashGo, to leading our M&A practice and working towards the combination of FUGA and Curvewe have actually set brand-new market requirements.
“I am now excited to welcome brand-new difficulties and chances that lie ahead. I wish to thank [Downtown CEO] Andrew Bergman and [Downtown executive chairman] Justin Kalifowitz for their steady assistance and collaboration throughout our interact over the previous 13 years,” he concluded.
In remarks of his own, Bergman highlighted the “widely appreciated” Maddux’s “product contributions to our culture and to the development of business” and kept in mind the expert’s “ongoing association” with Downtown.
On the latter front, the New York City-headquartered business likewise revealed that Maddux has actually devoted to “working as a specialist and consultant in assistance of essential tactical efforts throughout 2024.”
Moving on, it’ll deserve watching out for where Maddux lands– and whether Downtown, which has actually experienced numerous other executive shakeups and reorganizations on the year, sees extra higher-ups step away.
Particularly concerning modifications to Downtown’s numerous primary industrial officers, it must be pointed out in conclusion that over nine-year FUGA veteran Dorothee Imhoff ended up being CCO of the Downtown subsidiary at 2023’s start, according to her LinkedIn profile. The business in March formally revealed Imhoff’s start as CCO and exposed that previous FUGA CCO David Driessen would shift to primary organization officer of Downtown Music.
Long time Downtown officer Jedd Katrancha in July rotated from CCO of Downtown Music Services to the exact same function within Downtown Music Publishing, his own LinkedIn work history programs.