Dave Pennefather to relinquish Universal Music Ireland helm

Pennefather will continue as Chairman Emeritus, and will be replaced as MD by Mark Crossingham in September.

A statement from the company said that it is "reinforcing and building on its position as Ireland’s long-time market leader."

Pennefather made his name as General Manager of MCA Ireland in 1984, becoming MD of Universal Ireland in 1999. “In 24 years I have been lucky enough to work with, and enjoy the friendship of, a wide variety of innovative, creative and colourful executives and artists," he said.

"This new role offers me the opportunity and flexibility to explore some new projects that I have always wanted to get my teeth into, some music-related, some not. Going forward, I shall be on hand to see my great friend and colleague Mark Crossingham explore the many new and exciting opportunities now emerging in this most interesting and varied business of ours.

"Mark inherits a tremendous team at Universal Ireland and in such gentlemanly hands as his, things will only continue to get stronger,” he added.

"Dave will be an exceptionally hard act to follow and we are immensely pleased that he will be continuing to share his wisdom, wit and experience with the company as Chairman Emeritus,” said Universal Music UK & Ireland Commercial Director Brian Rose, to whom Crossingham will report.

"Mark’s broad experience makes him ideally suited to take Universal Music Ireland forward into a new era. Our Irish business has always been strong and, as a territory, it has stacks of potential. Despite the wider economic climate, the country is seeing significant retail investment and Ireland’s digital sales are already particularly robust."

Crossingham's background is in the UK branch's international marketing division, its consumer and media division and as deputy MD of Universal Island.

His most recent assignment was as General Manager of Universal's Concord Music Group, and said that "Dave has built up a very successful company over the past few years and I’m incredibly excited about taking that success further," pointing to new partnerships with Bravado and Sky as the way forward.