Universal Music Group extends CEO's contract, slashes salary after 2022 profit drop

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Universal Music Group extends CEO's contract, slashes salary after 2022 profit drop
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UMG posted a net profit of 782 million euros ($852.7 million) in 2022, down 12% from 2021, the company said earlier this month.

Universal Music Group NV said it will extend Lucian Grainge’s contract as chief executive for five years and amend it after profit dropped in 2022.

Mr.... Universal Music Group NV said it will extend Lucian Grainge’s contract as chief executive for five years and amend it after profit dropped in 2022.

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