Clive Davis is one of those legendary music industry executives who, like some of the artists he has nurtured, is known by just one name, like Miles, Whitney or Santana.

But even legends have off days. Davis, most recently CEO of BMG Label Group - has been bumped up, pushed sideways, demoted, depending on your view - to the position of Chief Creative Officer for Sony BMG Worldwide, the label’s parent company.

Most media outlets and blogs are reading this as a demotion of sorts for the great man, who shaped the careers of acts from Janis Joplin to Alicia Keys.

Writers point to the departure of Davis’ long-time right-hand man Charles Goldstuck, who was president of BMG, as a sign that an era of ‘regime change’ is sweeping through 550 Madison Avenue.

In the meantime Barry Weiss, a long-time Zomba label exec, will fill Davis’ shoes. He most recently has overseen the careers of Justin Timberlake, Britney Spears and R. Kelly.

But skeptics shouldn’t be too quick to write off the 76-year old, the Wall Street Journal says, reminding readers that King Clive has made more successful comebacks than anyone in music.

(Photo: Reuters)