Caparro Resigns as Island Def Jam Chief

Jim Caparro, chairman of Universal Music Group’s Island Def Jam division, has resigned with about two years remaining on his contract, sources said.

Caparro, who became head of the booming division as part of the massive reorganization that followed the former Seagram Co.’s acquisition of PolyGram Music Group, does not have another job lined up, sources said. He has held meetings with executives from Warner Music Group and EMI Group, among others, according to sources.

The move is expected to result in a promotion for Lyor Cohen, president of the Island Def Jam division, which releases albums by such acts as Jay-Z and Hoobastank.