UMG CFO Henny retiring

FINANCIAL CONVERSION: UMG CFO Nick Henny informed the company on Friday that he’s decided to retire after more than a decade at Universal. “Nick made it clear to us that he feels the time has come for him to take on different challenges in his life,” reads the UMG statement. “While we are sorry to see him go, especially during this transitional period, we certainly understand and respect his decision. Nick has been a great CFO, benefiting us over the years with his invaluable insight, expertise and friendship, all of which has helped make UMG the market leader. He has worked tirelessly to improve the value of our company, and we greatly appreciate his efforts.” London-based International CFO Boyd Muir (himself a 15-year UMG veteran) has agreed to add Henny's duties for North America, relocating to L.A. and assuming the title of Global CFO when Nick retires at the end of year. Though the N.Y. Post reports that this is the first hierarchical change initiated by new ruler Lucian Grainge, insiders say the decision was Henny’s alone. (11/8a)