That was quick. Brand new WMG CEO Recorded Music Max Lousada has hit the ground running. On Tuesday, 10/3, his second day on the job, Lousada detailed sweeping changes to Warner Bros. Records.

Lousada confirmed that Aaron Bay-Schuck, currently Interscope President of A&R, will be Co-Chairman/CEO and Tom Corson, who’s now President/COO of RCA, will be Co-Chairman/COO. The duo, who’ll report to Lousada, will function as partners, with Corson running the label’s operations and Bay-Schuck heading creative, mirroring the Atlantic setup.

Start dates for Corson and Bay-Schuck have yet to be confirmed, because both are under contract into 2018.

Current Chairman/CEO Cameron Strang will step down at the end of 2017.

“At WMG, we’re building a creative and entrepreneurial environment where artists can change culture and make music that matters,” Lousada stated in the announcement. “Tom and Aaron don’t just share our ambition; they both have it in their DNA. That’s why they’ll be such an inspiring duo at WBR, which is always strongest when it’s at its most daring and unexpected. At the cutting edge of a new generation of leaders, Aaron has impeccable taste and a rare ability to help distinctive artists grow into global superstars. Equally, Tom has a super-driven, imaginative approach to championing talent and mentoring executives, as well as a wealth of experience at both major and indie labels. They’re a dynamic combination that will bring in a fresh, new era at one of the greatest record labels of all time.

“Cameron has guided WBR through a period of unprecedented change and has added to the label’s remarkable musical legacy,” Lousada continued. “He will leave with our gratitude and utmost respect.”

Bay-Schuck quote reads as follows: "I must first and foremost say thank you to the artists who have trusted me, to the songwriters and producers who have delivered time and time again, to the publishers who have sent me their best songs, and to the managers and lawyers who have made me your first call. You all are the reason I am in this position. I am unbelievably excited to lead Warner Bros Records, in partnership with the one and only Tom Corson, into its rightful place as the most vibrant, diverse, forward-thinking, and artist-friendly music company on the planet. Lastly, I’d like to thank Max for his vision, trust, and for giving me this once-in-a-lifetime opportunity. "

Said Corson: “I've long been in awe of the extraordinary lineage of artists and executives that are part of the Warner Bros. story, and I'm excited to join this legendary label at a time when our business is more dynamic than ever, creatively and commercially. Aaron is a world-class talent, and our partnership will be based on a joint commitment to build lasting careers for extraordinary artists that shape the popular zeitgeist. I’m looking forward to heading back to the West Coast and working with Max and Aaron to bring WBR, its artists and its team to new heights. Max has an inspirational vision and I want to thank him for opening the door to this new journey.”