HITCO STAKES
ITS KLAIM

Joel Klaiman’s free agency was short-lived. Mere weeks after exiting his high-profile gig at Columbia, Klaiman is being made President of Hitco, the startup launched by L.A. Reid and Charles Goldstuck. He'll be based in Hitco's New York offices.

His arrival coincides with the nascent label’s first bona fide hit, Yella Beezy’s “That’s on Me,” which has reached #1 at Urban and is Top 20 at Rhythm. The company’s roster also boasts OutKast co-founder Big Boi and Fifth Harmony alumna Dinah Jane, among others.

Mark this one as a big get for Hitco; Klaiman has all the tools in his box as he bounces back quickly after leaving Big Red, where he served with distinction as EVP/GM and was deeply involved with massively successful campaigns for Adele, Beyoncé, The Chainsmokers, Pharrell and One Direction, among others, after a strong run at Republic. Now, the highly capable exec brings his magic touch to Hitco at what appears to be the perfect moment.

Reid and Goldstuck hailed Klaiman as a "world-class executive who has mastered all facets of the music business," while Klaiman saluted Reid and Goldstuck and declared the new entity "a forward-thinking company to develop and produce music-focused projects for distribution across all platforms," adding, "I look forward to avoiding HITS’ calls from an entirely new office."