Concord has announced big changes to its executive leadership: CEO Scott Pascucci will step down effective 6/30 and President Bob Valentine (pictured) will take over as CEO. Tom Whalley will vacate his post as chief label officer but continue to lead Loma Vista. The two will have a seat on Concord's new advisory board.

Said Pascucci, “In 10 years, we've built a company that matters in the music industry, a place that cares about its employees, artists and writers and that is well positioned for the future. I'm proud of all we've accomplished. I look forward to continuing on the board of directors to help guide the company forward under Bob’s leadership while also having more time to focus on my interests in film and social-impact initiatives.”

Whalley oversaw imprints Loma Vista, Concord Records, Concord Jazz, Fantasy Records, Rounder Records, Fearless, Easy Eye Sound and the almighty KIDZ BOP.

Concord's executive leadership transition comes just weeks after the launch of Concord Music Royalties, a $1.8b bond backed by Apollo.