Capitol Records President Quits

David Berman, president of Capitol Records for the past two years, has resigned “to pursue other interests.”

Joe Smith, president and chief executive of Capitol’s parent, Capitol-EMI Music Inc., will take over Berman’s duties for an interim period. A new label president will be named in the near future, the Los Angeles company said.

Berman, 46, joined the company as president of Capitol-EMI Music in February, 1987, and became president of the label in August, 1987.

Capitol, the U.S. label for many of the Beatles albums, has not been among the top labels in recent years because of a lack of top-selling new artists.

Berman’s strategy during his tenure included backing such top sellers as Bonnie Raitt and former stars such as the Doobie Brothers, as well as cultivating new talent who may become popular in the future.

Smith said in the statement: “David Berman has played a key role in the revitalization and return to profitability of Capitol Records. His contributions in reshaping the label have been invaluable and we wish him well in his future endeavors.”