Andy Taylor Steps Down

Posted by Real World on November 21, 2005 @ 12:30

Andy Taylor, one of the most colourful executives in the music business, stepped down as executive chairman of Sanctuary Group yesterday.

However, he will remain the senior executive of the struggling group he co-founded and is expected to take the title of chief executive. His previous role will be taken by a non-executive chairman.

“This change is intended to enable Andy to concentrate on overseeing the implementation of the new business plan,” Sanctuary said. The group, whose acts include Morrissey and Iron Maiden, is £120m in debt and has shed 175 jobs, a quarter of its staff.

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