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"I need to particularly note that these successes have been accomplished during a period of merger discussions and resulting uninformed rumours. I appreciate those of you who have remained focused throughout this period and have steadfastly focused on your commitment to fulfilling your potential through hardwork and your commitment to your teammates and company."
——Roy Lott

ROY GIVES A LOTTA LOVE IN GOODBYE MEMO

Capitol’s Exiting Interim Prez Assesses His Term In Office

Following yesterday's Andy Slater announcement, outgoing Capitol President Roy Lott circulated a memo to the label staff. This memo is reproduced in its entirety below. (Note: In the interests of accuracy, we asked our pea-brained editorial grunts NOT to attempt a copy-edit in this case. So they took the rest of the day off.)

Date: Tuesday, March 27, 2001

To: All Capitol Records Employees

From: Roy Lott

You have received today an announcement that Andy Slater will be the new President of Capitol Records.

Andy's hiring will finally allow me to devote more of my energies to my original position as Deputy President, EMI Recorded Music, North America, while also continuing to oversee the U.S. labels of Blue Note, Angel, Capitol Nashville, and EMI-Christian Records, as well as EMI-Canada.

I am extremely proud of what we have all accomplished together during my nearly three years in the Presidency of Capitol Records. Most importantly, during that period of time, we have returned Capitol to being a broad-based record company. We have expanded Capitol's artist roster to include Pop and R&B artists, while also renewing long term artist agreements with its three most important directly-signed artists: Beastie Boys; Everclear; and Bonnie Raitt. We have also developed an organization that is capable of breaking all kinds of music, capturing #1s on every available chart.

I am equally proud of how we have worked to re-establish the great traditions here at the Capitol Tower. We have released critically-acclaimed and commercially-successful albums by Nat King Cole, Frank Sinatra, Dean Martin, the Beach Boys, and The Band, and we have had the most successful Beatles hits album in their history (which, in turn, is destined to be EMI's most successful album ever).

All of this has come together in the past six months to produce the most successful period for Capitol since at least 1990: the #1 albums for Radiohead and the Beatles; the breaking of Coldplay; the sales successes of so many other records. As a result, Capitol will end the current fiscal year in excellent condition. Indeed, according to this week's Soundscan, as of the year-to-date, the Capitol Records Group ranks #3 in the industry.

I need to particularly note that these successes have been accomplished during a period of merger discussions and resulting uninformed rumours. I appreciate those of you who have remained focused throughout this period and have steadfastly focused on your commitment to fulfilling your potential through hardwork and your commitment to your teammates and company.

Capitol has a wonderful artist roster and catalog, and skilled executives in every department. I am confident that, with upcoming #1 albums from Paul McCartney & Wings ("Wingspan") and Radiohead ("Amnesiac"), and with Paul McCartney, Bonnie Raitt and others currently in the studio and recording great albums, Capitol will continue to flourish and grow, and the next chapter in Capitol's history will be incredibly successful.

Here's to that continued success.

Warmly,

Roy

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