Business
WARNER MUSIC GROUP ANNOUNCES REORGANIZATION OF RECORDED MUSIC OPERATIONS
After Two Highly Successful Decades at WMG, Max Lousada Announces Decision to Step Down at End of Fiscal Year Creative Regional Leadership to Be Elevated
About this update from Warner Music Group Corp.
[{"type":"text","content":"After Two Highly Successful Decades at WMG, Max Lousada Announces Decision to Step Down at End of Fiscal Year\nCreative Regional Leadership to Be Elevated Through Flatter Structure;Greater Impact Through Globalized Services\nElliot Grainge Becomes CEO of Atlantic Music Group at Beginning of Fiscal Year 2025; Julie Greenwald to Take New Role as Chairman of Atlantic Music Group\nNEW YORK, August 1, 2024 /PRNewswire/ -- Warner Music Group (Nasdaq: WMG) today unveiled a dynamic new structure for its Recorded Music operations, designed to strengthen services to artists at every stage of their careers, create more direct channels between local expertise and global opportunities, and position the company for long-term growth.\n\n \n \n \n \n \n \n\n \nAs part of this reorganization, Max Lousada, CEO, Recorded Music, has decided to step down at the end of the fiscal year (September 30), after eight highly successful years in the role, and 20 years at WMG. Lousada will remain as an advisor through January 31. \nAt the same time, Julie Greenwald has begun a leadership transition, which will see her take on a new role as Chairman, Atlantic Music Group, reporting to Robert Kyncl, WMG CEO. Effective October 1, Elliot Grainge, 10K Projects Founder & CEO, will become CEO of Atlantic Music Group, reporting to Kyncl. Continuing the tradition of independently minded entrepreneurs joining WMG, Grainge became part of the global senior management team last year, after the company acquired a majority stake in his trailblazing label. \nEffective October 1, the new, flatter structure will elevate creative regional leadership, supported by global services, delivering maximum impact for artists on the world stage. WMG's Recorded Music regional and divisional leaders will report directly to Kyncl. In the new structure, WMG will neither have the roles of CEO, Recorded Music nor President, International, Recorded Music. \nEurope, Middle East, Africa (EMEA) - will be overseen by seasoned exec Simon Robson. The UK & Ireland group will now be part of European operations.Latin America (LATAM) - including WM Latina, will continue to be run by Alejandro Duque, who has made a big impact on the region since joining WMG in 2021.Asia Pacific (APAC) - a leader will be appointed to the newly created position overseeing the entire APAC region. US - will be organized in ...