LONDON — Utopia Music is planning to rebrand as Proper Group AG, named after its core physical music distribution business, to reflect changes to the Swiss-based firm’s “strategic direction,” the company said Thursday (March 28). The proposed name change, which needs to be approved by shareholders, comes almost two months after co-founder and former head Mattias Hjelmstedt exited Utopia Music following a shake-up of its executive ranks. “As Utopia has evolved under new leadership, we recognize the need to align our brand with our new strategy and as a result, new market positioning,” said Michael Stebler, who was
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