Global Music Rights (GMR), valued at $3.3 billion and co-founded by Irving Azoff, has a new CEO. Jeff Toig, who previously served as the Chief Business Officer, has been elevated to the Chief Executive Officer position. He takes over from Randy Grimmett, GMR’s co-founder, who has transitioned to the role of Executive Chairman.
This leadership change comes shortly after GMR’s partnership with private equity firm Hellman & Friedman, which valued the organization at $3.3 billion. Established in 2013, GMR represents a roster of notable songwriters and composers, including Harry Styles, who recently announced his upcoming album, Kiss All The Time. Disco, Occasionally, set to release on March 6 via Columbia.
GMR’s impressive roster features artists like Drake, Pearl Jam, Billie Eilish, Eagles, and the Estates of John Lennon, Prince, and George Harrison, among others.
In a press release, the company stated that the leadership transitions reflect �continuity, stability, and connection to GMR�s distinctive long-term vision in this industry.� Grimmett will remain actively involved in guiding the strategic direction of GMR, while Toig will manage the company�s daily operations.
Toig, who has been with GMR since 2018, expressed his honor in leading the business moving forward, emphasizing the importance of their client-focused approach. He stated, �I�m honored to lead the business into the future and excited to work with our world-class clients, partners, and the entire GMR team as we continue to set the standard for excellence in our industry.�
Randy Grimmett noted, �Elevating my role allows me to work with Jeff to shape the future strategy of the business while continuing to collaborate closely with GMR�s exceptional roster of songwriters, composers, and publishers.�
In a significant development last September, GMR and SESAC joined ASCAP and BMI�s �Songview� copyright database, increasing the platform’s catalog to over 38 million works.