HMV CEO resigns after five years at the helm

HMV chief executive, Ian Topping, has resigned in order to “take on a variety of part time challenges”.

After leading the entertainment giant for the last five years, he will spend six months handing over the reins to a new management team.

Current retail director, Neil Taylor, has been appointed managing director of HMV with immediate effect, having worked his way up through the company over a thirty year period.

Rudy Osorio has been promoted to the role of commercial director, having been with HMV for 27 years in a variety of store and commercial management roles, latterly as head of the visual product category.

Hilco Capital, which acquired HMV exactly five years ago, said in a statement: “Despite the ongoing demands of physical to digital entertainment transitions and a general retail industry move from stores to online the business remains in good shape.”

Paul McGowan, Hilco Capital’s executive chairman said: “We have been pleased with our investment in HMV and the ability of the management team to deliver strong performances against a very challenging market backdrop.  

“We would like to thank Ian Topping for the leading role he has played in implementing this process over the last five years. I would also like to congratulate Neil, Rudy and Patrizia on their well-deserved promotions which position the business nicely for the next stage in its evolution.”