Universal Music Group Appoints CFO for East Coast Labels

Universal Music Group (UMG) has appointed Joseph Schmidt as chief financial officer (CFO) for its East Coast Labels division, which includes The Island Def Jam Music Group and Universal Republic Records.

Schmidt was previously with Sony Music for more than 15 years and most recently served as vice president, finance for RCA Records. He will now report to Ivan Gavin, East Coast Labels’ chief operating officer (COO) and will manage the finance staffs of Island Def Jam and Universal Republic, with be responsibility for overseeing financial functions, including planning, forecasting, reporting and deal analysis.

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