Randy Philips, head of entertainment giant AEG’s live division, has renewed his contract with the company for a further five years, CMU has reported.
Having held the position of AEG Live CEO for the past ten years, Philips’s new contract was confirmed by the overall boss of AEG, Tim Leiweke, who stated: “Under Randy Phillips and his entire management team, the last three years at AEG Live have been the best three years in our history; including 2011 – our best year ever.
“We are proud that the management team’s entrepreneurial spirit, shared goals, incredible experience and knowledge of our industry, along with our employees, so many of whom have been here from day one, have been the backbone of this company these past ten years. It is also ironic that for years people questioned whether or not we were committed to this business. Now we are the most consistent and respected in the industry. I am happy to have Randy back and look forward to the next ten years.”
One of the biggest challenges faced by Philips during his time with AEG was the fall out of Michael Jackson’s death in 2009, with the company having invested millions into the planned ‘This Is It’ London residency. The subsequent financial loss was weathered to some degree by the revenues generated by the This Is It film, which was, in some ways, a direct result of Philips’s personal interest in making documentary films around his company’s biggest live shows. The company was also involved in Justin Bieber’s concert film Never Say Never.
However, the Jackson family’s lawsuits against AEG have not yet been resolved, with both Jackson’s mother and father claiming that the firm should shoulder some responsibility for the star’s deterioration as they hired Conrad Murray, the doctor found guilty of causing the star’s death. Both Philips and AEG argue that Jackson himself oversaw the employment of Murray and insisted that he be hired.