It looks like one of the first moves by newly installed Universal Music Group CEO Lucian Grainge is to lock down two of the company's best performers. 

Universal Republic Records president and CEO Monte Lipman and Avery Lipman, the label’s co-president and COO, have both signed new, long-term contracts with UMG, it was announced Tuesday. The label, which the brothers founded in 1995 and was absorbed by Universal a decade later, has had a stellar 2010, thanks in large part to Taylor Swift's Speak Now, which has sold 2.8 million copies since its October release.  

“Monte and Avery are two of the most innovative executives in the business today,” Grainge said in a statement. “They have displayed creative leadership at its very best. They have been guided by a real passion and savvy for discovering and nurturing new talent, while from the business perspective, they have done an outstanding job in creating one of the industry’s most successful new labels known for its winning spirit and culture."