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Los Angeles, CA – In a significant development within the music industry, Gary Gersh has officially bid farewell to his role as the President of Global Touring at AEG Presents after an illustrious eight-year tenure. The announcement came through a staff letter from AEG Presents Chairman Jay Marciano, marking the end of an era for the global entertainment giant.
Stepping into Gary Gersh’s formidable shoes is Rich Schaefer, the current Senior VP of Global Touring at AEG Presents. Gersh, a respected figure in the industry, took a moment to reflect on his departure and express his confidence in his successor, Schaefer. In his farewell letter to staff, Gersh stated, “I have made the very difficult choice to step away from my position here at AEG Presents. This was not a decision I came to lightly, as working alongside everyone at this company these past eight years has been a career highlight for me, but I’m excited about the prospects ahead and look forward to us crossing paths again in the future… I couldn’t be more proud to place the global touring division in the very capable hands of my longtime friend and partner in business, Rich Schaefer.”
Jay Marciano commended Gersh for his invaluable contributions, emphasizing the role he played in nurturing the growth of Global Touring. “Gary played a vital role in the development and growth of Global Touring; his energy, passion, and initiative helped nurture an embryonic idea into a powerhouse team that has made a substantial impact on both our business specifically and the industry as a whole,” said Marciano.
Gary Gersh brought a wealth of experience to AEG Presents when he joined the company in 2015. Prior to his time at AEG, he made a significant mark in the music industry by signing renowned acts such as Nirvana, Sonic Youth, and Robbie Robertson during his tenure at Geffen Records. He also led the management team at the Artist Organization, representing artists like John Legend and Lenny Kravitz. Moreover, Gersh served as CEO of Capitol Records throughout the 1990s.
This transition marks a pivotal moment for AEG Presents as they entrust Rich Schaefer with the continued success of their global touring division. With Gersh’s legacy of accomplishments and Schaefer’s extensive experience in the industry, the future of AEG Presents is poised for more groundbreaking achievements.
This news underscores the dynamic nature of the music industry, where seasoned professionals like Gary Gersh pass the torch to a new generation of leaders, ensuring that the show goes on and the music never stops.