Deezer names interim CEO

Music streamer Deezer has named Stu Bergen as interim CEO, replacing Jeronimo Folgueira.

Stu Bergen (Source: Deezer)

Bergen has served as an independent non-executive director on Deezer’s board since February 2023. he will serve as interim CEO until the appointment of a new permanent chief executive, and will remain a member of the Deezer board of directors, according to the company.

Bergen has held key leadership positions with multiple record labels, including Warner Music for over 14 years. Most recently, he was CEO, international and global commercial services at Warner Music and prior to this, he served as president international recorded music at Warner Music Group.

Deezer said that Bergen was well-placed to play a pivotal role in guiding the group’s efforts towards bolstering its direct subscriber base in key markets, fostering partnership growth to facilitate international expansion and achieving free cash flow positivity in 2024.

Bergen said: ”I am honoured to accept the interim CEO role at Deezer at this pivotal time. I am committed to strengthening the company’s values and driving its growth trajectory forward. With the dedicated team and clear objectives already in place, I am eager to lead us through this period of transition, ensuring the company is prepared for its ambitious future.”

Iris Knobloch, chairwoman of the board of directors said: “On behalf of the Board, I would like to thank Stu for graciously accepting the interim CEO position at Deezer during this transitional period. With his focus on the company’s expansion and his dedicated leadership, we are confident we will continue to make significant strides towards achieving our goals.”

Deezer last year grew its revenues to €485 million, up 7.4%, with a strong showing from partnerships in particular. These included an agreement with RTL to support the launch of the latter’s multimedia app, including video and music. Deezer also struck an agreement with Latin American e-retailer Mercado Libre to support the latter’s launch of all-inclusive Amazon Prime-like streamer Meli+, which offers premium music streaming alongside video-on-demand and free retail delivery, in Brazil and Mexico.