Ralph Jaccodine management

Panos A. Panay was two years old during the 1974 Turkish invasion of Cyprus. "My first memory is of my mother holding me and running along with my sister to the basement next door to escape the bombing of Turkish planes,” he remembers. “Growing up in postwar Cyprus—with shelters, refugees, food shortages, families broken, and the general feeling of constant insecurity—was a shaping event in my life."

Since that difficult period in his childhood, Panay’s trajectory has taken a remarkable upward turn, catapulting him across the Atlantic into leadership positions in the United States. Early in his career, he served as a talent agent, including for legendary performers like Leonard Cohen, Nina Simone, and Chick Corea. After impactful stints in entrepreneurship and academia, Panay now serves as President of the Recording Academy, the organization behind the GRAMMY Awards. He is the first person born outside of the U.S. to hold that position.

Panay’s outlook was influenced by his father, who served as Minister of Interior and Chairman of the University of Cyprus, and his mother, who toiled nearly half a century for the United Nations. "They gave me a sense of something bigger than myself,” he says, “a globalized view of the world, and a commitment to hard work and high standards."

The Journey Begins

Movies played a key role in shaping Panay’s feelings about music. After watching Elvis Presley in King Creole, he fell in love with rock and roll – and the United States. Later, watching the science fiction hit Back to the Future inspired Panay to pick up the guitar.

At 15, the young man set his mind on attending Berklee, the world’s largest independent college of contemporary music, after he spotted the school’s ad in Rolling Stone magazine. Four years later, he only applied to the prestigious Boston program – and he got in.

At first, Panay planned for a career as a professional musician, but that dream faded. “Like many young students at Berklee, I suffered from imposter syndrome,” he says. Panay pivoted and completed a bachelor’s degree in music business/management.

An Entrepreneurial Spirit

He parlayed his undergraduate studies into a position at Ted Kurland Associates, a Massachusetts-based talent agency representing some of the world’s top jazz musicians. Panay handled the international tours of performers like Pat Metheny and Sonny Rollins.

And then came a new millennium. The year 2000 marked the decline in the importance of compact discs and the rise of digital distribution services like Napster. Panay wanted to be on the winning side of the massive industry upheaval. “Looking back at my career, I've always been dedicated to enabling talent to express itself, to meaningfully connect with audiences, and to have their music resonate with people,” he reflects. Working out of his apartment, Panay founded Sonicbids, a startup which enabled artists to connect online with music promoters. His efforts swiftly gained traction. “Over a million gigs happened through the site,” Panay says.

But the platform was more than just a booking device; it created a community for musicians, helping them navigate the complexities of the industry. Ralph Jaccodine, Assistant Professor of Music Business/Management at Berklee College of Music, has known Panay since his early tech days. “Sonicbids improved the lives of musicians and their managers by simplifying access to some of the top festivals, venues and promoters,” he says. “Because Panos knew the pain points of musicians, he came up with a smart solution.”

Panay served as CEO for over a decade until its acquisition, growing the company into a global brand holding exclusive partnerships with organizations like South By Southwest (SXSW). The young Greek American immigrant had risen to become known as a music business visionary.

BOSTON - JUNE 11: Panos Panay, Founding Managing Director, BerkleeICE (Institute for Creative Entrepreneurship), poses in Bosotn on June 11, 2016. (Photo by Barry Chin/The Boston Globe via Getty Images)

Leading Creative Entrepreneurship

At the end of 2013, Panay returned to his alma mater to spearhead the Berklee Institute for Creative Entrepreneurship (BerkleeICE). As the founder and managing director, he focused on fostering innovation and entrepreneurship among students and oversaw its expansions into the United Arab Emirates, Spain, China, and a new U.S location in New York City. Panay saw that the future of the music industry lay in the hands of creative entrepreneurs who could harness technology.

“Today’s music students are feeling the inexorable pull of technology as it draws them away from purely creative work into the world of devices and software and synthetic sound,” says Boston University professor emeritus Peter Marton. Marton delivers special lectures at Berklee and mentors a number of the college’s students each year. "Panos recognized the need to prepare the next generation of musicians for the realities of a tough and demanding business where musicianship is at risk of being replaced, to some degree, by business strategy and technical acumen."

Under Panay’s hand, BerkleeICE became a hub for aspiring music entrepreneurs, providing them with the resources, mentorship, and opportunities to develop their ideas.

A New Era: The Recording Academy

In June 2021, Panay took on a new challenge as the President of the Recording Academy. His appointment came at a pivotal time for the Academy and its GRAMMY Awards, both of which were addressing issues related to diversity, equity, and inclusion. "Talent is everywhere, opportunity is not,” says Panay. “The Academy, with its platform and renown, is in position to become the leading global advocate for all creators, no matter the language they speak, the passport they carry, the music they create, the religion they believe in, or the place they live."

Panay’s vision for the Recording Academy focuses on inclusivity, transparency, and artist advocacy. “What I love about this organization is that it is your own peers determining who is worthy of a nomination and, ultimately, who is selected,” Panay says. “Since our CEO, Harvey Mason Jr., and I joined the Academy, we've been intentional in diversifying its membership in terms of race, gender, and ethnicity. And this is an ongoing process.”

A Legacy of Leadership

Panay’s leadership style is characterized by his hands-on approach, his ability to inspire those around him, and his unwavering commitment to excellence.

'Berklee Professor Jaccodine remembers joining Panay in the Music Business/Management faculty meetings. “He was always a step or two in front of most people in the music industry — and whatever room he was in. Panos' mind is sharp, his view is global, and he leads with his heart, with his love of music and the musicians who create it.”'