Complex sentence: Harvest Records was a record label created by EMI in 1969 to promote progressive rock music and compete with Philips'Vertigo and Decca's Deram labels under the direction of Malcolm Jones and Norman Smith.
Split into simpler sentences: Harvest Records was a record label created by EMI in 1969 to promote progressive rock music and to compete with Philips'Vertigo and Decca's Deram labels. Harvest was initially under the direction of Malcolm Jones and Norman Smith.