| |
December 6, 2002
BOB CANDELA APPOINTED CHIEF FINANCIAL OFFICER
OF ASCAP PERFORMING RIGHTS GROUP
 Al
Wallace, ASCAP Executive Vice President and Chief Operating
Officer, has announced that Bob Candela has been promoted
to Vice President and Chief Financial Officer of ASCAP's
Performing Rights Group. Candela had previously served
as Vice President and Controller of the Group. In this
new role, all financial functions will report to Candela.
The promotion reflects Candela's many contributions
to ASCAP in delivering strong revenue growth with exceptional
operating expense control. Specifically, in the most
recent fiscal year, ASCAP:
- Distributed over 1/2 billion dollars, a world record
amount for any performing rights group (PRO).
- Attained its lowest-ever operating ratio (14.7%),
by far the lowest among all U.S. PRO's.
Commenting on Candela's promotion, Wallace said,
"In his expanded role, Bob's proven expertise
will give ASCAP added effectiveness in maximizing
royalty distributions to our members. These financial
talents are particularly appreciated by those who
own ASCAP, our 145,000 members."
Candela began his ASCAP career in 1990 as Director
of Accounting, spearheading the Society's selection,
development and implementation of a new General Ledger,
Accounts Payable and Accounts Receivable software
package. He was promoted to Assistant Vice President
- Budgeting and Finance in 1997, where he directed
and greatly enhanced ASCAP's organization-wide budget
process. In 2000, he was promoted to Vice President
and Controller. Prior to joining the ASCAP staff,
Candela held positions with Price Waterhouse &
Co. (now PricewaterhouseCoopers) and Arrow Electronics.
A CPA since 1981, Candela holds degrees from Iona
College and Adelphi University, and is a member of
the American Institute of Certified Public Accountants
(AICPA) and the New York State Society of CPA's.
Established in 1914, ASCAP (the American Society of
Composers, Authors and Publishers) is the world's largest
performing-right organization, with over 145,000 active
composer, lyricist and music publisher members. ASCAP
is committed to protecting the rights of its members
by licensing and collecting royalties for the public
performance of their copyrighted works, and then distributing
these fees to the Society's members based on performances.
ASCAP's repertory spans the entire spectrum of music
- from pop to symphonic, rock to gospel, Latin to country
to jazz, rhythm and blues, theater, film and television
music. ASCAP's Board of Directors is made up solely
of writers and publishers, elected by the membership.
ASCAP
in the News
|
|
