Gary Gersh steps down at AEG Presents
Gary Gersh, president of global touring at AEG Presents, plans to step down after eight years at the company.
His departure was announced by AEG Presents chairman Jay Marciano, who broke the news to AEG staff in a memo.
Gersh’s former role will be filled by Rich Schaefer, who is currently the company’s senior vice president of global touring.
In his own letter addressed to staff, Gersh said: “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.”
“This was not a decision I came to lightly, as working alongside everyone at this company has been a career highlight for me”
Marciano added: “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.”
Commenting on Schaefer’s new role, Marciano said: “Rich, who has been SVP of the division since joining the company in 2018, has an extensive resume and years of experience beyond his current duties here. He started his career in artist development at a record label before moving into management, where he spent two decades working across all aspects of artists’ careers while also developing a speciality in touring. He brings a thorough understanding of our business to the job and is looking forward to hitting the ground running and executing at the highest level on behalf of both global touring and AEG Presents. Rich will continue to be based out of New York, but we should all expect to be seeing more of him in Los Angeles.”
Gersh joined AEG in 2015 but he began his career in the 1980s, serving as an A&R exec at Geffen Records, where he played a key role in signing artists such as Sonic Youth and Nirvana to the label.
During the 1990s, Gersh led Capitol Records and launched G.A.S Entertainment with John Silva. A veteran talent manager, Gersh also led The Artist Organization, representing artists such as Lenny Kravitz and John Legend.
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