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Universal Music’s Grainge To Succeed Morris As CEO

Universal Music CEO Doug Morris will be succeeded by international chief Lucian Grainge next year, BusinessWeek reports. The Times Online also calls Grainge Morris’ “annointed successor” in a piece today. BusinessWeek says that Morris (pictured to the left) — who has overseen Universal Music’s operations for the last 15 years — plans to step down as CEO next summer; he will hold on to the title of chairman. Grainge, the former chairman and CEO of Universal Music U.K. and Ireland, was promoted to his current position as chairman and CEO of Universal Music International in May 2005. As BusinessWeek points out, at Universal, Morris has been known for his efforts to introduce digital music offerings — including the soon-to-launch music video site Vevo.