Add Schmitt bounced from EMI

LEARNING FROM THE PAST: History tells us that the execution of sweeping transitions such as the one Faxon is undertaking can be treacherous—the post-Steve Ross missteps at WMG and EMI’s own pratfalls following Guy Hands’ acquisition offer dramatic proof of that. Thus, industry observers are watching closely to see how the new EMI overall head proceeds in his reshaping of the company, with the high degree of difficulty that comes with the territory. (8/30a)