The EMI music company has lost $1.2 billion through its inability to adapt to changes in the U.S. music industry, a financial group says.

By Sarah Arnott EMI chairman Guy Hands has turned to a marketing expert with no experience of the music industry to help him turn round the record company's fortunes.

AN INDUSTRY outsider was yesterday named as the new boss of private equity-owned EMI's recorded music division. Elio Leoni-Sceti, formerly European head at household goods giant Reckitt Benckiser, is the new chief executive of EMI Music.

By Gideon Spanier, Evening Standard, London Apr. 16--Troubled music giant EMI has raided rival Universal to recruit the A&R man who has masterminded the success of Amy Winehouse.

NEW EMI boss Guy Hands never said he was getting into the music biz to make friends. However, even this most thick-skinned of executives is starting to feel wounded.