It has been confirmed that Capitol Records President Lee Trink is resigning from the label, and will step down from his position as of Monday, June 30. According to an internal memo acquired by FMQB, Trink "will be working closely with the company to ensure a smooth transition."

Additionally, Ian Ralfini, GM of Blue Note Group's Manhattan Records, will work with senior management and marketing staff to manage Capitol's marketing in the interim. Ralfini will report to Sam van der Feltz, President of EMI Music Global Marketing.

Fox News is reporting that Trink's exit is part of the widespread restructuring at EMI and that Virgin Records CEO Jason Flom could also leave in the near future. However, other reports says Flom could still remain in the fold.

According to Fox, Terra Firma would not replace the heads of the two labels and Nick Garfield would be named President of A&R labels for EMI. However, the two labels would not have Presidents, just heads of marketing and A&R Presidents.

Capitol is gearing up to release its most anticipated album of 2008, Coldplay's Viva La Vida or Death And All His Friends, which lands in stores next Tuesday, June 17.