SFX Entertainment has announced that CEO and President Robert Sillerman will resign within the next 2 months. The move isn’t surprising as the EDM mega company recently filed for chapter 11 bankruptcy and most of the blame has fallen on Sillerman. A corporate man from New York, entering his 4th year as figurehead for SFX, Sillerman never fully understood the music side of the business. Billboard published this story in 2012, outlining Sillerman’s plan to conquer the EDM world.
Michael Katzenstein, Boston University Law School Alumni, will serve as interim CEO as the company attempts to dig itself out of the $300 million hole it got stuck in. It’s unclear how the change in management and the rebuild process will effect the global electronic music industry. Sillerman’s resignation could send SFX on a trajectory away from the United States. ID&T, an SFX partner expressed concern that “our vision and goals, including a long-term strategy, are different from those of [SFX]”. Below is a summary of the public company’s stock failings since 2014.
