BMI Chief to Retire After 18 Years

Frances Preston, the long-reigning president and chief executive of musical performing rights agency BMI, said she would retire after 18 years.

The agency, which licenses music and collects royalties for hundreds of thousands of music publishers and songwriters when their work is performed, said Preston would be succeeded by Executive Vice President Del Bryant.

BMI said its revenue had more than tripled to more than $625 million during Preston’s tenure as she pursued new musical outlets in and out of the broadcasting field.