Recording Industry Association of America Chairman Mitch Bainwol is on the way out, heading to an automotive trade group, and the RIAA Board has named current RIAA President Cary Sherman as his successor. The move becomes effective 9/1/11.
“I’m honored to take on this role at such a pivotal moment for music,” said Sherman. “The industry is now reaching a new stage, with exciting initiatives, compelling legal music offerings, and real signs of progress on a host of fronts.”
Sherman continued, “The RIAA plays an important role in helping shape public policy in connection with America’s music. Setting the legislative agenda at both national and state levels, working to protect and promote intellectual property in the U.S. and throughout the world, coordinating with law enforcement on both physical and digital theft, and representing the industry in negotiations and before government tribunals to empower new business models and standards — all of these are vital functions and I look forward to taking them on.”
Bainwol also offered remarks, saying, “I leave content that we’ve set the table for a prosperous future for music. Our landscape is radically changed from the one we faced when I joined the RIAA eight years ago. The Internet is the foundation of a new music economy. We’ve helped to create an environment where new business models can thrive — with an extensive number of licensed services that allow consumers to experience and consume music in exciting new ways. We’ve also made significant headway in the battle against unauthorized sites such as LimeWire. We’ve entered into a new age of partnership with ISPs. And we’ve established rates and precedents that will ensure greater compensation for recording artists and record companies. The future is bright and the RIAA is in outstanding hands.”