EMI has surprised its top management board for the second time this year, in a shift that shocked shareholders in Terra Firma, which is its private equity proprietor, just weeks after they spent £105m to save the music group.

Charles Allen and Lord Birt, the big name media chiefs that Terra Firma was brought in to change the face of EMI, are taking their steps back in an additional spin of the loss making music group's rotating door of managers.

Roger Faxon, a well known and admired EMI veteran who has run its music publishing division for almost three years, has been promoted to group Chief Executive.

Mr. Allen, Head of EMI's recorded music branch, and Lord Birt, Chairman of Maltby Capital, the holding Company for Terra Firma's spending in EMI, are leaving to become counselors to the private equity association.

The move is an extra trick by Guy Hands, Founder and Chairman of Terra Firma, which purchased EMI for £4.2bn three years back

Shareholders in Terra Firma were confused by the news, as a lot of had not known about the scheduled shake-up prior to the approval, a £105m cash injection to save EMI from being acquired by Citigroup, which is its only lender.