The notorious multi-billion dollar corporation that bought out ID&T and The Opium Group in 2012 has just announced that there will be some major staffing changes among their top level employees. The biggest addition to SFX Entertainment’s team will be Greg Consiglio, who will now act as president and COO of the entire company, after working the same position over at Viggle, an SFX-owned marketing platform. Kevin Arrix will also follow Mr. Consiglio from his vice presidency at Viggle into the position of vice president and chief revenue officer of the entire company. Tim Crowhurst and Ritty Van Straalen will be respectively promoted to the positions of head of strategic development, and CEO of Live Entertainment. Leaving the company is SFX’s Entertainment Chairman Joe Rascoff, and Chief Marketing officer Chris Stephenson.
As you can see, most of these staffing changes will remain within the company. However Wall Street still did not take very kindly to the news. Following the announcement, SFX shares closed at an all-time low of $3.40 after opening at $3.74. What does this mean for the future? Hopefully bigger and better things for the industry, and for the fans as well, but I suppose we can only wait and see.
“These organizational changes add fuel to the excitement now upon us. This will permit individuals to be hyper-focused on making sure all our constituencies are well served.” – SFX Founder Robert Sillerman
Source: Billboard
Image Source: TomorrowWorld