Universal Music Group (UMG), a dominant force in global music and entertainment, has named Matt Ellis as its next Chief Financial Officer, with the appointment effective June 9. Ellis, a seasoned finance leader with a cross-industry background, will be based in Santa Monica and report directly to UMG’s Chairman and CEO, Sir Lucian Grainge.

This marks a notable leadership transition as Ellis takes over from Boyd Muir, who stepped into the role of Chief Operating Officer in late 2024 after serving as CFO since 2010.

A Move From Telecom to Music

Ellis arrives at UMG following a high-profile tenure as Executive Vice President and CFO at Verizon Communications. There, he played a key role in overseeing one of the largest corporate finance portfolios in the U.S., managing a debt load exceeding $100 billion and guiding major investments in spectrum and infrastructure.

His time at Verizon also saw him lead strategic acquisitions, large-scale financing initiatives, and capital planning across the company’s Wireline and Wireless divisions.

Global Perspective and Deep Industry Experience

Originally from the U.K., Ellis brings more than two decades of financial leadership across media, tech, food, and telecommunications. Before joining Verizon, he held senior roles at Tyson Foods Inc., where he led M&A deals in Latin America, improved credit ratings, and managed international operations in Mexico.

With a background in corporate development, treasury, and financial planning, Ellis has built a reputation for balancing long-term strategy with operational rigor.

Leadership’s Perspective

Sir Lucian Grainge shared that Ellis was chosen for his broad experience and international outlook, especially as UMG expands its definition of a music-based entertainment company. “Matt is that executive,” Grainge said. “His background aligns with the path we’re charting.”

Grainge also noted that with Ellis in place, Boyd Muir will now have space to fully focus on growth initiatives and the day-to-day coordination of UMG’s global operations.

A New Chapter for UMG’s Finance Division

Ellis expressed strong enthusiasm for the new role. “UMG is more than a market leader. It’s shaping the future of the industry,” he said. “I’m excited to help deliver on the ambitious goals the team has set.”

Boyd Muir added, “Matt brings not only impressive credentials as a CFO, but also the ability to lead across industries in transition. I’m looking forward to working alongside him.”

Ellis’s appointment signals UMG’s continued push to solidify its leadership team with executives who are comfortable operating at scale and across markets.