Universal South Records' co-founders Tony Brown and Tim DuBois have exited the label after a buyout from Universal Music Group, according to The Tennessean. An in-demand producer, Mark Wright will step into the role of president of the label by the end of the year. Wright's former position at label group Sony BMG -- as executive vice president of A&R -- has been filled by Renee Bell, who had been sharing the executive responsibilities with Wright following the Sony and BMG merger last year. No layoffs are expected at Universal South, whose roster includes Joe Nichols, Shooter Jennings, Cross Canadian Ragweed, Katrina Elam and Marty Stuart. Brown and DuBois started Universal South as a joint venture with UMG in 2002, but following the buyout, Wright will report directly to Universal's New York offices.