On 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.
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