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Worried staffers expressed concern that the company would be under increased pressure if Thyret resigned and Whalley didn't come on board for 20 months, sources said.
THYRET ON THE FENCE
After 30 Years At Label, Warner Bros. Chairman/CEO Weighs Resignation, Contract Extension

Warner Bros. Records Inc. Chairman and CEO russ thyret',390,400);">russ thyret',390,400);">Russ Thyret is weighing options to either resign or re-up at the Bunny, sources confirmed.

According to those sources, Thyret has called a meeting with his key personnel today (Wednesday) at 2:30 p.m. to discuss his future with the label.

Thyret has been offered an extension of his contract.

The news of ongoing talks between Thyret and Warner Music Group topper roger ames',390,400);">roger ames',390,400);">Roger Ames comes just one day after reports leaked that Interscope-Geffen-A&M President Tom Whalley was lured to Warner/Reprise for a whopping $30-$40 million, five-year deal. Whalley, however, is under contract at Interscope until Jan. 1, 2002 and will supposedly stay at his post during that duration.

It is unclear whether Ames wants Thyret to stay on during the interim—a move that would help for the smoothest possible transition—or if there is a place in the Warner Bros. Records world for the 30-year company veteran.

Worried staffers expressed concern that the company would be under increased pressure if Thyret resigned and Whalley didn't come on board for 20 months, sources said.

Thyret was appointed Chairman of the label in 1995. His rise to the top spot was seen then as a move designed to calm the waters after a trying time of executive musical chairs involving such luminaries as Michael Fuchs, Robert Morgado, mo ostin',390,400);">mo ostin',390,400);">Mo Ostin, lenny waronker',390,400);">lenny waronker',390,400);">Lenny Waronker, Doug Morris, Rob Dickens and Danny Goldberg. The music company has yet to fully recover from those upheavals, which began over seven years ago.

Thyret, who has been with Warner Bros. Records for three decades in various marketing, sales and promotional capacities, moved to Chairman and CEO from his former position of Co-Vice Chairman. All parties involved could not be reached for comment.

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