Michael Ritto, 47, assumes the position as new Managing Director of the Egmont division Nordisk Film today, Monday 6 February, 2006. Nordisk Film will also become co-owner of MBO, Denmark’s leading music company.
Today, Michael Ritto assumes the position of Managing Director of Nordisk Film. Michael Ritto has many years’ experience in the recording industry and has been a driving force in companies engaged in creative development. Coupled with extensive experience from the media world through board memberships of such organizations as the trade association IFPI, GRAMEX and recently The Danish Film Institute, this has given Michael a solid industry background. He has also been actively involved in the development of digital music distribution.
Michael Ritto started his career in the record industry as a messenger boy in 1974. In 1978, he established Medley Records together with Poul Bruun, followed by 12 years as Managing Director of the Danish and Scandinavian divisions of the British record company, EMI. In 2004, together with Benny Bach, he co-founded MBO, The Music Business Organisation, which is currently Denmark’s leading music company and has released a significant number of DVD titles.
Michael Ritto replaces Ole Larsen, acting Managing Director of Nordisk Film since Kenneth Plummer’s resignation in August 2005. Ole Larsen will continue as a member of the Nordisk Film divisional management group in his position of Chief Financial Officer together with Mikkel Berg, Vice President, Marketing. Benny Bach, 44, will continue as Managing Director of MBO and simultaneously join Nordisk Film’s divisional management group. Benny Bach acquired his extensive experience and in-depth understanding of the entertainment industry through his association with EMI and as co-founder of the Elap Music, CMC Records and MBO companies.
Michael Ritto will also become a member of Egmont’s Group Management. As of today’s date, Michael Ritto has resigned as a member of the board of The Danish Film Institute.
MBO incorporated in Nordisk Film
Nordisk Film has acquired a stakeholding in MBO with an option to acquire a holding of up to 50%. The music industry has numerous interfaces in common with the games, movie and TV industries, where MBO and Nordisk Film will seek to establish synergies. MBO runs operations in Denmark, Norway and Sweden, and consists of a series of wholly or part-owned record companies: Copenhagen, RecArt, CMC, Alarm and My Way Music.
