Terra Firma chief executive officer Guy Hands is expected to take a back seat at UK record group EMI as non-executive chairman when the company finishes its selection process for a chief executive for its music division.

A source close to the situation said EMI has shortlisted candidates from the media, publishing, entertainment, music sectors and the new chief executive would not necessarily need music industry experience. The sentiment echoes the appointment earlier this month of Cory Ondrekja, co-founder of Linden Lab, the parent company of virtual universe Second Life, as vice president. He said in his blog he has only bought five music albums since 2000.