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.