Ben Katovsky, president and COO of Hipgnosis Song Management, has been appointed CEO to replace Merck Mercuriadis, who will assume the role of chairperson. The move follows a period of shareholder tension and strategic review of Hipgnosis Songs Fund's assets, with the board expressing concern over the undervaluation of the company. Mercuriadis will focus on engagement with songwriters and artists, while Katovsky will manage the company and implement its growth strategy.