(Reuters) – Hipgnosis Songs Fund appointed Robert Naylor as its chairman on Tuesday, as the British music investor looks to regain shareholder confidence after a revolt last month prompted a need to reorganise the business.
Naylor, who was most recently chair of recently acquired Round Hill Music Royalty Fund, replaces Andrew Sutch.
Sutch left the Hipgnosis last month after shareholders voted against his re-election and rejected the fund’s plans to sell a chunk of its music catalogues.
Shareholders also voted against the firm’s current structure, prompting a reorganisation or wind up within six months.
Round Hill Music, which owns the copyrights to work of major artists such as the Beatles, was acquired by Alchemy Copyrights.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Savio D’Souza)
