CEO Mat Vlasic Resigns From Bravado, UMG’s Inhouse Merchandiser
Jimi Celeste/Patrick McMullan via Getty Images – Mat Vlasic
Mat Vlasic has resigned as CEO of Bravado, the merchandising company of UMG, a spokesperson for the company confirms.
“Mat Vlasic informed the company that he is stepping down from his role as CEO of Bravado, our global merchandising division. John Habbouch, Bravado’s General Manager and CFO, will assume interim leadership until a successor CEO is named,” UMG’s statement reads.
The sudden resignation, reported by Billboard Oct. 22, came two days after UMG released its third quarter earnings report showing Bravado took a big hit because of the coronavirus pandemic with merch sales sinking nearly in half during the period from July to September. Year to date through September, revenue dropped 42.3%, Billboard reports.
Vlasic took the helm at Bravado after having founded Sony Music Entertainment’s consumer products and artist merchandise division. He’d been with Sony for 13 years prior to joining Bravado.
His tenure at Bravado included making a 2017 deal with the Prince estate and acquiring Epic Rights and its roster of artists including KISS, Britney Spears, Aerosmith, *Nsync, Def Leppard, Billy Joel and David Bowie, according to Variety. The company also opened The Rolling Stones’ “Flagship Store” in London in August.