By the time you read this column, Lee Trink, the popular and affable president of Capitol Records, will be telling his troops his last day is June 30 says Fox News Columnist Roger Friedman.

Sources tell me Trink’s resignation will be followed in short order by that of Jason Flom, head of Virgin Records. Both labels are part of EMI Music.

And get this: Neither Trink nor Flom will be replaced. Guy Hands and the folks from Terra Firma, the new owners of EMI who have no experience in the record business, don’t believe in label presidents.

Friedman goes onto say that Coldplay, the Beatles, and Katy Perry who currently has the #1 song in the country will be left fending for themselves.

This is the way I am told all the EMI labels will be run. Nick Gatfield is coming in to take over as “president of A&R labels for North America and the U.K.” for all of EMI. But the individual labels will not have presidents. They will have “A&R presidents” and heads of marketing.

Unfortunately, right now there is no marketing chief for Capitol. And now there’s no president.

KOAR can’t confirm these reports, but, If this is truth, it is certainly stranger than fiction….