Vevo CEO Rio Caraeff will be leaving the company by the end of the year, according to various reports and a leaked memo.
Caraeff apparently learned of a pending New York Post report that would announce his decision to dip, so he beat them to the chase and released a memo to Vevo employees on Friday.
Here's a sample from the lengthy message (via re/code):
Due to an ill timed leak which has led to a pending story in the press, I have decided to send this letter out to the company in advance of my planned announcement on Monday so that you hear about it first from me directly. There are times in life when there is no other way to say it other than to just come out with it.
So here goes ... After nearly 6 years, I have decided to depart Vevo at the end of this year. I care very deeply about the company that along with many of you, I helped to get off the ground. I love her and will miss her but even more so, I will miss you all. Our company celebrates its 5th birthday next month and that is as fitting a time as any for a change. To thrill and delight music fans around the world has always been our purpose. To bring music video to more people, in more places and in the highest quality possible was always our mission. And we have been through a heck of a lot together.
My mind races thinking about all of the great products we have shipped, the countries we have grown into, and all of the shows and incredible programming that we've produced.
The New York Post released their report afterwards, and provided some context: "Caraeff was the head of Universal's digital music division when he jumped to Vevo in May 2009. Industry insiders credit him with establishing Vevo as a major force in music. Now the owners want to move forward with someone who has a fresh vision. Vevo this week hired a former Turner Broadcasting marketing executive, Stacy Moscatelli, as vice president of marketing"
Billboard notes that Vevo has accumulated nearly seven billion views in 14 different countries since its launch in 2009.
