Aug 06, 2012 10:33 AM EDT
Peter Nero, artistic director of the Philly Pops, will resign next year after more than thirty years in the post.
The Philly Pops called the contract with the two-time Grammy winner too expensive and sought to sever ties as it went through the fallout from the bankruptcy.
Upon Nero's departure after 2012-13 season, he will turn over the rights to the group's name. But if any stipulated severance payments are missed, he could gain back rights to the name Philly Pops.
Nero's attorney told the court the 78-year-old pianist and conductor has no intention of retiring and will be free to lead other ensembles, according to The Philadephia Inquirer.
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