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“This new structure recognizes the evolution of our business since WMG became a stand-along music company in 2004, and is intended to drive our ability to seize new growth opportunities.”
—-Edgar Bronfman, Jr.
WMG SHUFFLES THE DECK
Bronfman Establishes Office of the Chairman with Cohen, Fleisher Expanding Duties
Things are hopping at the Bunny.

Warner Music Group Chairman/CEO Edgar Bronfman has restructured its executive ranks, establishing an Office of the Chairman comprised of Lyor Cohen and Michael D. Fleisher.

Reward for a job well-done or last stop before the exit door?

The duo will oversee the “unified strategy, transformation and operations of the company,” while reorganizing its worldwide management team.

Cohen is now WMG Vice Chairman and Recorded Music Chairman/CEO for the company’s U.K. and Latin American operations, in addition to his current duties in U.S. and Canada.

Fleisher, who has been WMG’s EVP/CFO since January 2005, played a prominent role in take the company public in May 2005. In his new role as Vice Chairman, Strategy and Operations, he will oversee global corporate strategy and operations, while leding the transformation of WMG’s business models and internal processes.

WMG SVP and Global Controller Steven Macri is named EVP/CFO.

All three report to Bronfman.

In addition, Bronfman announced a revised structure of the current Warner Music International regional structure, with three regions, including Warner Music Americas and the U.K., Warner Music Asia Pacific and Warner Music Continental Europe.

Lachie Rutherford will continue to run Warner Music Asia Pacific, while John Reid will continue to man the company’s European operations (reporting to Bronfman for Europe and Cohen for the U.K.), continuing to oversee the company’s international marketing and content efforts. The company’s Latin American operations will continue to be led by Inigo Zabala, reporting to Cohen. Former WMI Chairman/CEO Patrick Vien will leave the company.

Said Bronfman: “This new structure recognizes the evolution of our business since WMG became a stand-along music company in 2004, and is intended to drive our ability to seize new growth opportunities.”

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