Complex sentence: Phillips was then contacted by the head of Virgin Records, Richard Branson (later known as the head of many other companies, including Virgin Atlantic Airways) who signed Phillips and released "Lost at Sea" on Virgin's subsidiary Caroline Records label.
Split into simpler sentences: Phillips was then contacted by the head of Virgin Records, Richard Branson (later known as the head of many other companies, including Virgin Atlantic Airways). Branson signed Phillips and released "Lost at Sea" on Virgin's subsidiary Caroline Records label.