Both execs were elevated to co-presidents of the label in June 2022.
"We used to dream of this, but now it's time to put in work to properly represent the culture and connect with more listeners in the U.S.," says Mavin Records COO Tega Oghenejobo.
The parent of Starship Entertainment, which includes Monsta X and other K-pop acts, says the investment will help "spearhead growth in K-culture worldwide."
Bad Bunny and Harry Styles led Sony to big gains in current market share in 2022, while Republic's huge fourth quarter helped it end the year on an upswing.
In his annual New Year's letter to Universal employees, Grainge highlighted the company's successes but also called for change in an era of "bad actors."
Nolan joins from Motown, where he was executive vp of the label and oversaw all of its marketing initiatives.
The move becomes official one day after current chairman/CEO Mike Dungan retires.
The revered executive will leave the label in March but continue to serve as an advisor to UMG chairman Lucian Grainge. President Cindy Mabe is expected to head the label.
The "Don't Play With It" rapper is ready to take her career to the next level.
Industry veteran Lee L’Heureux will lead the company and take on a newly created role at Moscowitz's Alamo Records.
