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"To all the artists and employees who live and die for the music every day, and who personally sacrifice for the good of the creative process: 'keep on keepin' on' in the tradition of a company that respects and honors the artistic community."
Monday, September 24, 2012

LYOR COHEN TO ANKLE WMG POST

Eight-Year Veteran Leaves Amid Rumors Roger Faxon Could Take His Place
The Lyor Cohen era at Warner Music Group is about to come to an end.

The Chairman/CEO of Recorded Music, who has been at the company since 2004, will leave effective Sept. 30, according to sources at the music group.

Among the long-rumored possible replacements are EMI CEO Roger Faxon, who just left his post on Friday with the approval of the company’s merger with UMG.

Cohen’s responsibilities include overseeing Atlantic Records Group and Warner Bros. Records, along with WEA and Rhino Entertainment. He is also a member of WMG's Board of Directors. Cohen joined WMG shortly after Time Warner’s sale of the music company to an investor group led by Edgar Bronfman Jr.

Said Cohen: "To all the artists and employees who live and die for the music every day, and who personally sacrifice for the good of the creative process: 'keep on keepin' on' in the tradition of a company that respects and honors the artistic community."

Added Access Industries’ Len Blavatnik: "I personally want to thank Lyor for his dedication and contributions to Warner Music. He has been both a business partner and personal friend and I wish him only the best."

WMG CEO Stephen Cooper: "Lyor Cohen has built something very special here. While we understand his desire to move on to his next challenge, the enduring success of our recorded music division will serve as a great testament to the progress we've made during Lyor's time at WMG. We are grateful for Lyor's contributions, and we wish him the best. I'm confident that given the strength of our talented management team in Recorded Music, we'll be able to drive further success."

Following Cohen's departure, the company's senior label executives will report directly to Cooper.

Cohen has served as the Chairman and CEO, Recorded Music for Warner Music Group since 2011. Prior to that, he served as Vice Chairman, WMG and Chairman and CEO, Recorded Music - Americas and the UK, since September 2008. Previously, Cohen was Chairman and CEO, Recorded Music North America from March 2008 to September 2008 and Chairman and CEO, US Recorded Music since joining the company in March 2004.

Cohen first rose to prominence in the mid-‘80s as an artist manager at Rush Communications, working with Run-DMC, the Beastie Boys and others, and then as President of Def Jam Records, from1988.


 
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