Music Business

Audu Maikori Resigns as CEO of Chocolate City Record Label, What it all Means

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Audu Maikori on The Art of NegotiationOn April 22nd, 2015 during the Nigerian Entertainment Conference, CEO for Chocolate City Record Label, Audu Maikori, announced he would step down from his role as label executive. Since then, I have numerous emails and messages asking my take on Audu’s move. In addition, during the same conference, M.I Abaga announced his record label, Loopy Records, has merged with Chocolate City.

Below is one response I gave on social media (I have slightly modified it for the AML audience) about my thoughts on Audu’s resignation:

I’ve been asked this a lot … I think it makes sense. We’ve been calling it on AML for a while that M.I can’t operate Loopy as a label head, hold a position as an officer (executive) and possibly a shareholder at Chocolate City (CC), be an artist at CC & Loopy and have it all work out. Inevitable conflict of interests will and has occurred, and it really monetarily makes no sense for both brands.

The merger to me is a way for M.I to step up and fill CEO role (at CC). Audu is still very young and while the label and company have made strides, it is not time to step off (as CEO for the record label) just yet. However, given the so called merger, there needs to be room for a personality like M.I which is actually a strong personality like Audu, not just as vocal (in front of the camera), except (behind the scenes).

M.I steps in as President I think. Has more leverage and also more equity stake in CC (encompasses Loopy), he brings Jesse back on board, Audu focuses on growing their other subsidiaries and it really all works out for all. The men are all mature now. They need each other in business to go where they are trying to go and again it just makes good business, legal and music sense.-Ms. Uduak

If you do not know who Audu Maikori is or you missed his interview on AML Podcast show with yours truly, check the interview below and get caught up as well.

[app_audio src=”http://traffic.libsyn.com/africamusiclaw/AML027AuduMaikoriMusicIndustryIssues.mp3″]

Audu Maikori Steps Down as Chocolate City CEO
Audu Maikori Steps Down as Chocolate City CEO 2 Audu Maikori Steps Down as Chocolate City CEO 3

Interview with Bond Stanley Ebigbo (Full Interview via Podcast)

Listen to the Latest AML Podcast Episodes

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Africa Music Law™

AFRICA MUSIC LAW™ (AML) is a pioneering music business and entertainment law blog and podcast show by Fashion and Entertainment Lawyer Ms. Uduak Oduok empowering the African artist and Africa's rapidly evolving entertainment industry through brilliant music business and entertainment law commentary and analysis, industry news, and exclusive interviews.

Credited for several firsts in the fashion and entertainment industry, Ms. Uduak is also a Partner and Co-Founder of Ebitu Law Group, P.C. where she handles her law firm’s intellectual property law, media, business, fashion, and entertainment law practice areas. She has litigated a wide variety of cases in California courts and handled a variety of entertainment deals for clients in the USA, Africa, and Asia.

Her work and contributions to the creative industry have been recognized by numerous organizations including the National Bar Association, The American University School of Law and featured in prestigious legal publications in the USA including ABA Journal and The California Lawyer Magazine. She is also an Adjunct Professor at the prestigious Academy of Arts University in San Francisco.
For legal representation inquiries, please email (uduak@ebitulawgrp.com). For blog related inquiries i.e. advertising, licensing, or guest interview requests, please email (africamusiclaw@gmail.com). Thank you for visiting Africa Music Law™.

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