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flag Hipgnosis Songs Management founder Merck Mercuriadis steps down as CEO, becoming chairman, as tensions rise with the Hipgnosis Songs Fund board; COO Ben Katovsky assumes management responsibilities.

flag Hipgnosis Songs Management has announced that founder Merck Mercuriadis will be stepping down as CEO and become the company's chairman. flag This strategic move is taking place amidst an increasingly tense relationship between Hipgnosis Songs Management and the board of the Hipgnosis Songs Fund, a music royalty fund that Hipgnosis Songs Management manages. flag Mercuriadis will focus on engaging with songwriters and artists, while chief operating officer, Ben Katovsky, will assume responsibility for managing the business and implementing Hipgnosis Songs Management's growth strategy.

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