Ron Goldstein Named President/CEO at Verve

Tommy LiPuma Remains Chairman; Will Focus on Recording, A & R

NEW YORK, Jan. 17, 2002 — Ron Goldstein has been promoted to President and Chief Executive Officer of The Verve Music Group, effective Jan. 1, 2002.

In his new position, Goldstein will expand his areas of responsibilities to include overseeing all aspects of the label's operations and will report Zach Horowitz, President and Chief Operating Officer, Universal Music Group.

Tommy LiPuma remains Chairman of The Verve Music Group and will now focus on producing records and A&R activities for the label group.

"I can't think of anyone more deserving to take over the job of running Verve than Ron Goldstein," said LiPuma. "It was always my plan to have Ron eventually take the helm at Verve. He combines great creativity, marketing skills and business acumen."

LiPuma added, "I couldn't be more excited about continuing to work at Verve and concentrating on what I love — finding great songs and great artists and producing their records."

In making the announcement, Horowitz said, "Ron and Tommy have done a tremendous job in building Verve into the world's premier jazz and adult music company. As Ron assumes the leadership of the company, we look forward to his taking Verve to even greater heights."

Goldstein has served as President of the Verve Music Group since December 1998, where he was responsible, among other things, for initiating the joint venture with Sony to create and market the landmark Ken Burns' "Jazz" TV series on CD, conceiving the successful Verve catalog series "Desert Island Discs," formulating the genre-breaking strategy behind the worldwide success of Diana Krall, as well as restarting the eclectic, adult-oriented Blue Thumb label.

"It has been one of the special thrills of my life building the pre-eminent jazz and adult music label with Tommy LiPuma," said Goldstein. "I am privileged that the torch is being passed to me to run the historic Verve label. I look forward to working with Tommy and Verve's incredibly dedicated and passionate team to deliver the best in jazz and adult music."

Before becoming Verve's president, Goldstein served as president of The GRP Recording Company and as president and CEO of Private Music.