HUBERT TO STEP UP AT KOBALT (UPDATE)

Laurent Hubert will be Richard Sanders' successor as Kobalt President, Founder/CEO Willard Ahdritz has announced. He will also serve as Chief Revenue Officer. Hubert steps into the post after Sanders officially exits at the end of June.

As we reported last October, the well-respected Hubert joined Kobalt as President Platform and Investments for the new B2B rights-management platform division shortly after leaving BMG.

Ahdritz also announced the following promotions of Kobalt execs: Sas Metacalfe to Chief Creative Officer, Lonny Olinick to Chief Strategy Officer, Marissa Mencher to Chief People Officer and Jeanette Perez to President, Global Synch and Brand Partnerships.

"Five years ago, I brought Richard Sanders to Kobalt to help us roll out an aggressive global expansion plan," reads a statement from Ahdritz. "Together, we have achieved all of that and more. He has played an instrumental role in getting us to where we are today. As we considered our future plans together, Richard felt that he had accomplished what we had set out to do together and it was now time for him to move on. He will remain with Kobalt until the end of June working alongside me and will always be part of the Kobalt family. As both a friend and a colleague, I cannot thank Richard enough for his enormous contribution to Kobalt over the years."

"I look forward to our next chapter at Kobalt," he concluded, "as we continue to lead the way in offering transparency, empowering creators, and bringing the music industry into the digital age.”

Stay tuned for updates.