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Thursday, 25 October, 2001, 12:29 GMT 13:29 UK
Top executive leaves EMI
Mariah Carey
Mariah Carey signed to Virgin in a multi-million dollar deal
Virgin Records vice-chairman Nancy Berry has left the company amid a rigorous restructure by entertainment giant and parent company EMI.

Berry is credited as being the driving force behind deals with the Rolling Stones, George Michael and Janet Jackson.

Her ex-husband Ken Berry, who was responsible for signing the Spice Girls, parted company with EMI just days earlier.

Alain Levy, who replaced him as chief executive officer of EMI's recorded music division, announced Ms Berry had left Virgin after more than 20 years.


She is a talented record executive who has made great contributions to the development of Virgin Records

Alain Levy, EMI
But EMI has seen its stock market value fall from nearly 10bn to 1.9bn in the past year and the clearout is being seen as the company's attempt to get back on track.

The recording industry in general is also suffering a worldwide slowdown.

Mutual

Mariah Carey's trumpeted signing to the label for a reported $20m (14m) per album has been viewed as a failure - her latest album Glitter is performing poorly and her film career has been panned.

As with her estranged husband, Ms Berry's departure is said to be by mutual agreement.

"It has been a great pleasure working at Virgin Records over so many years with such a range of great artists and people. I wish all my colleagues success in the future," she said.

Ms Berry started her career at Virgin in New York as a secretary to her future husband.

The pair married in 1985 but split in the mid-90s.

Working her way up to vice chairman, she was renowned for throwing lavish industry parties.

"We are grateful for Nancy's hard work and dedication over the years," Mr Levy, a former president of PolyGram, said in a statement.

"She is a talented record executive who has made great contributions to the development of Virgin Records."

See also:

03 Oct 01 | New Media
EMI gives music to web rival
28 Sep 01 | Business
Music market faces global slump
25 Sep 01 | Business
EMI shares dive on profit warning
31 Jul 01 | New Media
Negotiators join web royalty row
09 Aug 01 | Business
Counting the cost of a hit
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