Upgrade City For Kobalt’s Ahdritz, Hubert

• Willard Ahdritz, who founded Kobalt Music Group 20 years ago, marks his second decade with the company by relinquishing his position as CEO and taking on the new role of Chairman. At the same time it was announced that Laurent Hubert, President & Chief Revenue Officer at Kobalt, is succeeding Ahdritz as CEO. The news of this executive action was initially reported by Music Business Weekly (MBW) and independently confirmed by RAMP.

As MBW reports, Ahdritz remains Chief Investment Officer at Kobalt Capital, which in December 2017 acquired Songs Music Publishing for $160 million, and will also maintain significant voting rights in Kobalt due to his personal shareholdings in the company.

Speaking to MBW in Los Angeles last week during the run-up to the Grammys, Ahdritz explained that his move to Chairman was his idea, and that he will continue to have an active role at Kobalt. “When you’re running a global company of 750 people in 14 offices, sitting in back-to-back meetings, your agenda is always full,” he said. “I’m very pleased that we are taking this step; I know Kobalt and our clients will be better for it. Laurent is an excellent executive. I’m really looking forward to continuing our partnership together and driving Kobalt into the next phase of the company.”

Hubert joined Kobalt in 2016 from BMG, where he had served as President of Marketing & Creative. In 2017, he was upped to President & Chief Revenue Officer at Kobalt, succeeding Richard Sanders. As Hubert told MBW, “Before I joined Kobalt, I competed with [it]. I saw how Kobalt was unique, with such steadiness in its mission: not just to do a better job for creators but to improve the entire [music industry] ecosystem. I believed in that mission, which we will continue. Together, our job is to amplify Kobalt’s mission and make sure we are as effective as we can be in our respective new roles. Willard and the team has created the most trusted brand in the business.”