EMI CD sales have been less than glittering of late

EMI said that Mr Nicoli had agreed to resign by 18 September, the planned date of the company's delisting from the London Stock Exchange.

Chris Roling and Ashley Unwin, both managing directors of Terra Firma, will take seats on EMI's board.

The board shake-up is the first action taken by EMI's new owners.

EMI, whose artists include Coldplay, Robbie Williams and Kylie Minogue, agreed to be taken over in May.

'Driving change'

Mr Roling will become chief operating officer of the EMI group under its new ownership and chief financial officer of both the company and its music division.

The appointment follows the resignation of Martin Stewart from his post as chief financial officer.

Mr Unwin will take on a role as director of business transformation.

The initial focus will be to maximise the value of the significant assets in EMI's publishing business Guy Hands, Terra Firma

In addition, EMI said a new governance structure was being implemented which would involve the EMI board reporting into a new supervisory board chaired by Terra Firma's chief executive Guy Hands.

This new level of management will focus on EMI's strategic business relationships.

"The new management structure will allow EMI to benefit from Terra Firma's experience in strategically transforming businesses and driving operational change," said Mr Hands.

"The initial focus will be to maximise the value of the significant assets in EMI's publishing business and to realise the digital opportunity in recorded music."

The iconic British group has been struggling in the face of falling CD sales - particularly in the US market - but its digital sales have risen sharply.