Former CD Child CEO Tracy Maddux has abruptly stepped down from his position as Downtown Music Holdings’ chief business officer (CCO).
Downtown only recently introduced the surprising govt departure, which is “efficient instantly.” Maddux led CD Child for over a decade earlier than signing on in October of 2020 as CCO of Downtown, which had bought the indie distributor in 2019.
Now, slightly over three years later, Maddux is not a part of Downtown, as initially talked about. The exact causes behind the event are unclear; Maddux reposted Downtown-related information on LinkedIn solely days in the past, however hadn’t penned a submit on his exit on the time of this writing.
In the meantime, the assertion Maddux supplied for Downtown’s formal launch seems gentle on concrete particulars and any indication of the subsequent step in his profession.
“It has been a exceptional journey at Downtown, and I’m pleased with every little thing we’ve achieved collectively,” relayed Maddux. “From the strategic sale of CD Child, AdRev, and DashGo, to main our M&A follow and dealing in direction of the mixing of FUGA and Curve, we’ve set new trade requirements.
“I’m now desirous to embrace new challenges and alternatives that lie forward. I need to thank [Downtown CEO] Andrew Bergman and [Downtown executive chairman] Justin Kalifowitz for his or her unwavering help and partnership throughout our work collectively over the previous 13 years,” he concluded.
In remarks of his personal, Bergman emphasised the “universally revered” Maddux’s “materials contributions to our tradition and to the expansion of the enterprise” and famous the skilled’s “continued affiliation” with Downtown.
On the latter entrance, the New York Metropolis-headquartered firm additionally disclosed that Maddux has dedicated to “serving as a guide and advisor in help of key strategic initiatives all through 2024.”
Shifting ahead, it’ll be value holding a watch out for the place Maddux lands – and whether or not Downtown, which has skilled a number of different govt shakeups and reorganizations on the yr, sees extra higher-ups step away.
Particularly relating to adjustments to Downtown’s numerous chief business officers, it ought to be talked about in conclusion that over nine-year FUGA veteran Dorothee Imhoff turned CCO of the Downtown subsidiary at 2023’s starting, in keeping with her LinkedIn profile. Furthermore, the corporate in March formally introduced Imhoff’s begin as CCO and revealed that former FUGA CCO David Driessen would transition to chief enterprise officer of Downtown Music.
Lastly, longtime Downtown exec Jedd Katrancha in July pivoted from CCO of Downtown Music Providers to the identical position inside Downtown Music Publishing, his personal LinkedIn employment historical past reveals.