Mercuriadis will transition to chairman, with Ben Katovsky rising to chief executive as the advisor eyes smoother relations with its publicly listed royalty fund.
The owner of rights to songs by Neil Young, Shakira, Journey and more will hold an extraordinary general meeting to address shareholders' concerns.
To counteract a call option given to the investment advisor, the board proposed paying prospective buyers a fee of up to 20 million pounds to make bidding for its music assets more appealing.
KPMG will take over the role from Pricewaterhousecoopers, subject to approval by the fund's shareholders.
Following last week's no continuation vote, the fund's board has six months to form plans to improve share price and stability—and that may include liquidating.
A majority of shareholders of the music royalty fund voted 'no' to continuation and rejected a plan to sell rights to songs by Shakira and Barry Manilow.
Shareholders will decide Thursday how the London-listed fund will continue – and whether its planned catalog sale will go through.
Ahead of next week's continuation vote, the London-listed fund's board says it explored firing its investment advisor, run by fund founder Merck Mercuriadis.
The London-listed trust founded by Merck Mercuriadis withdraws its October payment to investors because of lower estimates on income from the Copyright Royalty Board's Phonorecords III decision
Shareholders will meet on Oct. 26 to vote on a proposed $440 million asset sale and whether to keep the fund going under Merck Mercuriadis' advisory.