UK-based 7Digital’s Deputy Chief Executive Officer, Pete Downton, has left the digital music services company.
Shares in 7digital dropped by 6.3% on Friday (March 8) in the wake of the news first emerging.
Downton (pictured) joined 7digital in 2014 as Chief Commercial Officer.
The respected former Imagination Technologies PLC executive has strong roots in the music business, having spent over seven years at Warner Music Group.
Downton left WMG in late 2007, after two years as VP, Business Development and Strategic Partnerships.
7digital Chair Don Cruickshank said of Downton’s departure: “Pete has made a tremendous contribution to the company during the four years since its creation.”
He added: “On behalf of the board, I would like to thank him for everything he has done, significantly in positioning the company within the music industry and securing the major music labels as both suppliers and customers. He leaves with our gratitude and very best wishes for his next move”.
7digital offers B2B streaming music services to major brands.
Its clients include the likes of Onkyo and TikTok (formerly musical.ly).Music Business Worldwide