According to Variety, the music industry was rocked on Thursday with the news that Epic Records chairman and CEO Antonio “L.A.” Reid is leaving Sony Music. The executive was six years into his tenure at the label he relaunched as a hub for urban acts (Future, Travis Scott, DJ Khaled) with a proven track record in pop (Meghan Trainor, Fifth Harmony). In fact, Reid was riding a winning streak that culminated in a No. 1 Billboard Hot 100 hit for Khaled the same week his exit was revealed.
Sony has not commented or confirmed that Reid has already left the building, but an insider tells Variety that the search is on for a new CEO. Meanwhile, the label continues to operate with a full slate of releases on deck, including new music by Fifth Harmony (expected in June), the first solo effort from Camila Cabello (coming very soon), and a new album by Mariah Carey. Also on the horizon is a scheduled appearance by Reid at the Midem conference in Cannes on June 6, where he is due to give a keynote address. It is unclear as of now whether that commitment will be honored.