Jackson has signed a record deal with Two Seas Records, the label he has founded with Bahrain ruler Sheik Abdulla Hamad Al-Khalifa.
Gut Records chairman Holmes has been named Two Seas Records Chief Executive Officer (CEO).
The superstar is currently writing a new album which is due for release late next year.
Jackson, 47, says, "I am incredibly excited about my new venture and I am enjoying being back in the studio making music."
Holmes - who has helped Crazy Frog and Tom Jones top the charts - will oversee Jackson's new album and manage the superstar's other business interests.
--> New pic: Sheik Abdulla Hamad Al-Khalifa, (Mike), Guy Holmes
I'm happy...it seems that not only Michael is finally getting a grip on his financial problems (he is about to sell 25% of his ATV-catalogue to get out of his debts), but that he also is actually working again. Great news indeed - let's only hope that his new manager knows what he's doing.