Mercuriadis will be replaced by chief operating officer Ben Katovsky, who said he hopes to work constructively with the music rights fund to benefit shareholders.
Hipgnosis Songs fund manager and founder Mercuriadis steps back as board continues review proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.