Dungan To Retire: UMG/Nashville Chairman/CEO Mike Dungan plans to retire in March after more than a decade in the post but will continue to serve as an advisor to UMG Chairman/CEO Sir Lucian Grainge. "For 43 years, the music business has been my home - smiling, dialing, selling, hustling, laughing, doing my part to help the art and magic realize its potential," Dungan says. "And loving every minute of it. I've lived a charmed life, and there are no words to describe how grateful I am and how blessed I feel for everyone that I have encountered along the way. I'm also proud to boast that through it all, with little exception, I have been 'all-in' as a competitor and as a friend. The solemn truth is that over time, that intensity takes its toll, and a lot of the dog has been knocked out of me. By the time I leave here, I will be 69 years old. It is time to slow down. I look forward to devoting more time to my family and to my garden. I have an incredible wife who has put up with my nonsense for 45 years. We have two great kids who have two great wives of their own. And we have five wonderful grandkids who I intend to spoil to the fullest."

Dungan joined in 2012 (Breaking News 2/23/12) from then-Capitol/Nashville, prior to the two groups merging (CAT 10/26/12). He did Pop promotion for RCA Records from 1979-1987 and handled Sales at BMG Distribution for two years before joining start-up Arista/Nashville as GM in 1989 where he remained until 2000. "I am forever grateful to Sir Lucian Grainge, who 11 years ago handed me the keys to the best job in the world," Dungan notes. "To him and everyone at UMG, to all of those who have been my family-in-arms now and in the past, to all those creators whose art it has been my pleasure to represent ... I am at a loss to express my love and gratitude. I am the luckiest man alive." Reach Dungan here.

No official word, but Pres. Cindy Mabe is expected to rise to succeed Dungan. Mabe began her career at RCA/Nashville as Coord./Promotions in 1994 before segueing to Arista/Nashville as Sr. Dir./Marketing & Artist Development in 1999 where she was part of Dungan’s team. She rejoined Dungan at Capitol/Nashville in 2007 (CAT 3/6/07) and served as SVP/Marketing from 2009-2012. Mabe made the move to UMG/Nashville during the merger and was named Pres. in 2014 (Breaking News 6/12/14). Reach Mabe here.