WMG’S INNER WORKINGS REVEALED
Executive salaries have taken a nosedive, with Bronfman and WMG N.A. chief Lyor Cohen each earning a base salary of $1 million, with performance-based bonuses of between two-and-a-half to six times that.
Warner/Chappell Chairman/CEO Les Bider earns $1 million, and is eligible for that amount in bonuses. Exec. VP/CFO Helen Murphy has a salary of $750k, while EVP/ General Counsel Dave Johnson makes $700k. Both are eligible for bonuses equal to the average of the ones they received over the past two years.
Warner Bros. Records Chairman Tom Whalley was paid $2.2 million and earned a $3.5 million bonus last year.
WMG ownership figures show that Thomas H. Lee Partners are the largest shareholders at 49.8%, with Bain Capital at 21.3%, Bronfman’s Lexa Partners at 12.5%, Providence Equity partners at 11%, Edgar Bronfman Jr. at 2.9% and Lyor Cohen with 2.1%.
