Matt Ellis Named as Universal Music Group’s Chief Financial Officer

Highly regarded global finance executive Matt Ellis has been named as Universal Music Group's (UMG) Chief Financial Officer, effective June 9.

Why it matters:

• Ellis will be based in Santa Monica, and report directly to UMG Chairman/CEO Sir Lucian Grainge.

• Most recently, Ellis served as Executive Vice President and CFO at Verizon Communications, leading all finance activities.

• Ellis succeeds Boyd Muir, who was promoted to Chief Operating Officer of UMG in October 2024 but continued in the CFO role during the search for his replacement.

• Ellis's appointment will free up Muir to focus on "a range of strategic growth initiatives", while supporting Grainge in "the day-to-day management of many of our global corporate and divisional functions".

What they said:

• Grainge: "We wanted to find the right executive who brings a global worldview and deep financial expertise across a range of industries including media, technology and consumer goods".

• Ellis: "I am incredibly excited to join UMG at this time and help the team deliver the ambitious commercial and financial goals that they have outlined".