WMG CFO ERIC LEVIN TO RETIRE

WMG CFO Eric Levin has announced his impending retirement after nine years in the post. He made the decision public to enable the company to conduct an open search for his successor.

“Although I’m not leaving for many months yet, I will take this opportunity to applaud our amazing, hard-working finance team around the world,” wrote the widely admired Levin in a company memo obtained by HITS in which he also expressed his gratitude to new CEO Robert Kyncl, Kyncl’s predecessor, Steve Cooper, and WMG owner/Access Industries chief Len Blavatnik.

“I love working with you and being part of this extraordinary company that’s all about teamwork, passion and ingenuity," Levin's note continues. "But, after a transformative decade at WMG, culminating in an IPO and then a CEO transition, I’m ready to pass the baton to a new CFO. It’s going to be a natural progression, at a natural time. Whoever takes this role will be very fortunate. I’m looking forward to helping set them up for another successful decade of growth.”

“At the right time, we’ll celebrate Eric's retirement,” reads a message from Kyncl. “But for now, I’m very grateful he’s agreed to stay, help us find his successor and ensure a smooth transition. We’ll be running a thorough search, speaking to candidates both internal and external.

"When he arrived at WMG in 2014, Eric and his family had just moved from China, and the music industry was at its nadir. He helped WMG return to growth and profitability, making important contributions to its long-term strategy and the funding of its global expansion and major acquisitions. He was an integral member of the team that led the IPO and, as I’ve seen firsthand, he’s been a highly effective ambassador for our company with investors. Along the way, he’s built a great team and strengthened our fiscal discipline. Needless to say, Eric will be leaving WMG in a much better place than when he joined it.”

If you're wondering what he was doing in China, you'll find a nifty capsule bio here.

We wish Eric much happiness in his next chapter, which we’re sure will offer “continuity” in the form of his continuing to avoid us.