Beginning in 1960, Shepard worked for fourteen years for Columbia Records, eventually becoming co-director of CBS Masterworks. He joined RCA Records in 1974, where he was Division Vice President of RCA Red Seal, responsible for recording, signing and marketing of the label, until 1986. He was then Vice President: Classical and Theatrical until 1989 for MCA Records in New York, where he created their classical and theatrical record line. Shepard then became an independent producer, wrote, narrated and produced "The WQXR/MCA Classics Listener's Guide" (1988; music appreciation recordings) and has lectured on musical theatre and classical music.