Martijn Tel has been appointed as the brand new Chief Monetary Officer of US efficiency rights group, BMI.
Tel studies to President & CEO Mike O’Neill and shall be a member of the Firm’s govt management workforce. Tel shall be based mostly in BMI’s New York workplace.
He succeeds former BMI CFO Bruce Esworthy, who introduced his retirement in March and formally left on the finish of June.
BMI famous on Wednesday (September 4) that Tel has in depth expertise in senior monetary positions at each private and non-private firms.
Most not too long ago, he was the Chief Monetary Officer of Gerson Lehrman Group [GLG], a world knowledge and knowledge providers supplier backed by the non-public fairness agency SFW Capital Companions.
In line with BMI, whereas at GLG, “he led a “finance transformation that enabled the management workforce to raised perceive efficiency throughout totally different companies, areas, and shoppers”.
The “finance transformation” he led additionally featured “enhanced automation and upgraded techniques, together with the implementation of an enterprise knowledge administration system”.
Tel beforehand held CFO and working positions at a number of firms within the info providers trade and, in keeping with BMI, has labored with a number of non-public fairness sponsors.
A local of the Netherlands, he has two finance levels from Vrije Universiteit in Amsterdam.
In his new place, Tel joins two different not too long ago named senior executives on the BMI management workforce whose appointments had been introduced in July, Chief Know-how Officer Tom Kershaw and Chief Transformation Officer Justin Rohde.
BMI mentioned that each one three execs “shall be integral” as the corporate continues to implement its “strategic progress plan by enhancing the assist it gives to creators and in search of new sources of income for them”.
BMI collects blanket license charges from companies that use music, for a repertoire of greater than 22 million musical works. The corporate switched to a for-profit enterprise mannequin in 2022.
The PRO not too long ago accomplished its sale to a shareholder group led by New Mountain Capital, which resulted in vital payouts to BMI’s earlier shareholders, which consisted of a wide range of US broadcasters.
“Martijn’s wealth of expertise, notably working with firms with formidable progress plans, makes him an ideal match for BMI now.”
Mike O’Neill, BMI
“Martijn’s wealth of expertise, notably working with firms with formidable progress plans, makes him an ideal match for BMI now,” mentioned O’Neill.
“I look ahead to working with him and our workforce as we proceed to implement strategic initiatives designed to meet BMI’s mission to develop the worth of music for our creators and copyright homeowners.”Music Enterprise Worldwide
