Top rated music video network Vevo has confirmed Friday's rumors that President and CEO Rio Caraeff will exit at the end of 2014. Vevo is owned by Universal Music Group, Sony Music Entertainment, Abu Dhabi Media Company and Google. The Vevo board of directors has retained an executive search firm to conduct a search for Caraeff’s successor with Chief Financial Officer Alan Price acting as interim CEO effective as of January 1. Full text of the official statement: Vevo, the world’s leading all-premium music video and entertainment platform, announced today that President and CEO Rio Caraeff will leave the company...

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