Matt Ellis named Chief Financial Officer of Universal Music Group

Universal Music Group has appointed Matt Ellis as its new Chief Financial Officer, effective June 9.

Based in Santa Monica, he will be responsible for leading UMG’s global financial operations and will report to UMG’s Chairman & CEO, Sir Lucian Grainge.

Most recently, Ellis served as Executive Vice President and CFO at Verizon Communications, where he led all finance activities.

Ellis succeeds Boyd Muir, who was promoted to the role of Chief Operating Officer of UMG in October 2024.

Muir has held the position as UMG’s Executive Vice President (EVP), CFO and President of Operations since 2010, and has continued to serve as CFO during the search for his successor.

In making the announcement, Sir Lucian Grainge said: “As UMG’s evolution continues and as we expand the very definition of a music entertainment company, 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. Matt is that executive.”

Grainge added: “With Matt in place, Boyd can accelerate his efforts to execute on a range of strategic growth initiatives in addition to supporting me in the day-to-day management of many of our global corporate and divisional functions.”

Matt Ellis said: “Sir Lucian and the leadership team have built a world class company that isn’t just the market leader, but also driving the evolution of the industry.

"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.”

Boyd Muir said: “Matt brings not only impressive experience as a CFO, but also an understanding of global businesses across dynamic industries in transition.

"I’m so pleased to welcome Matt to our team and looking forward to collaborating with him as we position UMG for continued growth.”