Big news out of SFX Entertainment, Robert F.X. Sillerman's corporate dance music behemoth, as the company initiates a major restructuring that's designed to devolve brand-level operations onto more local control. Greg Consiglio has been named CEO of Beatport, SFX's music store and (more recently) free streaming service. His previous positions, as president and COO of SFX Entertainment, will remain unfilled.
“The moves underway at SFX show a broader commitment to powerful business lines and emphasize the importance of brand operations,” said Sillerman, chairman and CEO of SFX Entertainment, in a press release. "We are moving to a more distributed organizational structure,” Sillerman said. “We are pushing more of our operations to the local and regional levels around the world, as opposed to maintaining a corporate structure at the top."
Additionally, SFX has established a new global steering committee to aid in planning and execution of global corporate policy, Wouter Tavecchio has been named CEO of SFX Europe, and SFX will consolidate a number of Los Angeles offices under Jeroen Jansen, Creative Director of SFX Live North America. These moves follow a number of stock buybacks after Wall Street anxiety over SFX's numbers gave way to Sillerman's agreement earlier this year to take SFX private.