The news was announced on Wednesday (September 13) by AEG Presents CEO & Chairman Jay Marciano in an email to staff, obtained by MBW.
Within the email, Marciano wrote that Gersh is “leaving the company to pursue new opportunities”. Marciano noted that the exec will “be missed by all of us who have worked alongside him” and that Gersh “played a vital role in the development and growth” of the Global Touring division.
Gersh will be succeeded by Rich Schaefer, who has been SVP of the division since joining the company in 2018. He will continue to be based in New York.
Gersh’s long career in the music business has seen him spend time as an A&R executive at EMI America, Geffen Records (where he signed Sonic Youth and Nirvana) and as CEO/President of Capitol Records (signing the Foo Fighters to their first label deal).
He has also found success as an artist manager, before switching to the live sector in 2015.
Along the way, Gersh has worked in various capacities with such wide-ranging artists as Sonic Youth, Nirvana, Counting Crows, Foo Fighters, Beastie Boys, Peter Gabriel, Rickie Lee Jones, Soundgarden, Blackpink, Luke Combs, Zach Bryan, Karol G and Tyler, The Creator among many others.
Marciano told staff in the email that Gersh’s “energy, passion and initiative helped nurture an embryonic idea into a powerhouse team that has made a substantial impact on both our business specifically and the industry as a whole”.
He added: “I know I speak for all of us when I say thank you, Gary, for your many contributions to AEG Presents these last eight years. We wish you nothing but continued success in your future ventures.”
Credit: Lester Cohen
“I know I speak for all of us when I say thank you, Gary, for your many contributions to AEG Presents these last eight years. We wish you nothing but continued success in your future ventures.”
Jay Marciano, AEG Presents
Marciano also wrote that Schaefer, Gersh’s successor, “brings a thorough understanding of our business to the job and is looking forward to hitting the ground running and executing at the highest level on behalf of both Global Touring and AEG Presents”.
In a separate note to AEG Presents staff, also obtained by MBW, Gersh wrote: “I have made the very difficult choice to step away from my position here at AEG Presents. This was not a decision I came to lightly, as working alongside everyone at this company these past eight years has been a career highlight for me, but I’m excited about the prospects ahead and look forward to us crossing paths again in the future.
“And while it’s sad to leave this incredible team behind, I couldn’t be more proud to place the Global Touring division in the very capable hands of my longtime friend and partner in business Rich Schaefer. Rich, I know you will continue to do wonderful things at AEG Presents in this role.”
“While it’s sad to leave this incredible team behind, I couldn’t be more proud to place the Global Touring division in the very capable hands of my longtime friend and partner in business Rich Schaefer.”
Gary Gersh
Gersh added: “I would be remiss if I didn’t take this moment to thank Phil, Dan, and Jay for the invaluable support and trust as I built our Global Touring team from scratch. This is a company that really values entrepreneurial spirit, and I am incredibly grateful for that. I would also be remiss if I didn’t thank the entire Global Touring team…you make me look good every day and there is no other group of people I would want out there in the trenches with me.
“Finally, thank you to everyone at AEG Presents. I have always yelled this from the mountain tops and will continue to do so long after I pack up my office and drive out of the lot for the last time: this is hands down the greatest concert promotion company in the world and that is entirely a result of the hard work and enthusiasm you all bring to the job every day. Thank you for letting me be a part of it. See you out there in the crowd.”Music Business Worldwide
