- Share this article on Facebook
- Share this article on Twitter
- Share this article on Flipboard
- Share this article on Email
- Show additional share options
- Share this article on Linkedin
- Share this article on Pinit
- Share this article on Reddit
- Share this article on Tumblr
- Share this article on Whatsapp
- Share this article on Print
- Share this article on Comment
Universal Music Group has nominated Nicole Avant, Sherry Lansing, William Ackman and Cyrille Bollore to join its board of directors.
The music giant, eyeing new strategic advice from the streaming arena, put forward its names ahead of an annual shareholders meeting in Amsterdam on May 12. As the largest music publisher, UMG derives significant cash flows from streaming services like Spotify, Apple Music and Amazon Music, as well as from platforms like YouTube and TikTok.
In Sept. 2021, UMG shares started trading on the Amsterdam stock exchange after a spin-off from Vivendi.
Avant is married to Netflix co-CEO and chief content officer Ted Sarandos, served as the U.S. Ambassador to The Bahamas and produced the award-winning documentary The Black Godfather for Netflix.
Lansing is a former CEO of Paramount Pictures and president of production at 20th Century Fox and today runs The Sherry Lansing Foundation in the non-profit sector.
Pershing Square Capital Management CEO William Ackman is a hedge fund giant and activist investor who recently acquired 3.1 million Netflix shares, valued at more than $1.1 billion, as part of a long term bet on the streaming arena.
Ackman’s main Pershing fund also acquired a 10 percent stake in UMG last year. And Cyrille Bolloré, chairman and CEO of Bolloré Group, is another major investor in UMG.
THR Newsletters
Sign up for THR news straight to your inbox every day