Concord CEO Scott Pascucci is stepping down as president.
Pascucci’s announcement comes several weeks after Concord launched Concord Music Royalties, LLC Series 2022-1, a $1.8 billion asset-backed security that will allow further growth through funding reserve accounts, paying down debt and other uses.of the security. “It has given us significant additional capital for growth while also dramatically broadening the base of institutional lenders who are now familiar with the company.
“I have had the privilege of helping to build Concord into the company that it is today ever since Norman Lear and his business partner Hal Gaba had the extraordinary foresight to buy a small, independent jazz record label in the same year that Napster was invented,” Valentine said in a statement. “The journey since then has been scary, thrilling, surprising, and incredibly rewarding.” that Concord will proceed on its current path.
As chief label officer, Whalley oversees frontline imprints Fantasy Records, Concord Records, Concord Jazz, Rounder Records, Loma Vista Recordings, Easy Eye Sound, KIDZ BOP and Fearless Records.
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