HMV CEO Ian Topping resigns

1118
HMV CEO

HMV chief executive Ian Topping is poised to depart the business later this year after five years in the role.

He will be replaced by retail director Neil Taylor during a six-month transition period.

It is not yet known what Topping’s next job will be, but he is reportedly pursuing “a variety of part-time challenges”.

HMV said Taylor has worked with the business over a 30-year period, and that he is “well prepared for the challenge of taking the business forward to the next stage”.

Meanwhile, HMV has appointed Patrizia Leighton to role of marketing director and Rudy Osorio, who has been with music retailer for 27 years, has been promoted to commercial director.

“Despite the ongoing demands of physical to digital entertainment transitions and a general retail industry move from stores to online, the business remains in good shape,” the retailer said in a statement.

HMV was acquired by private equity firm Hilco Capital five years ago.

“We have been pleased with our investment in HMV and the ability of the management team to deliver strong performances against a very challenging market backdrop,” Hilco executive chairman Paul McGowan said.

“We would like to thank Ian Topping for the leading role he has played in implementing this process over the last five years.”

Click here to sign up to Retail Gazette‘s free daily email newsletter