Erik Huggers Named CEO of Vevo

Courtesy of Industry Partners
Vevo building exterior

He steps in for Rio Caraeff, who left last fall.

Vevo is set to name Erik Huggers as its new CEO and president, Bloomberg reports.

Huggers, who previously headed Intel's Internet-TV service effort, replaces Rio Caraeff, who ran the video hosting site since its start in 2009 and left in fall 2014.

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"I believe there is great potential in accelerating innovation to delight audiences with new product features and premium content," Huggers said in a statement.

Vevo is jointly owned by Universal Music Group, Sony Music Entertainment, Google and Abu Dhabi Media.