WMG ANNOUNCES REORGANIZATION

Warner Music Group today unveiled a new structure for its recorded-music operations.

As part of this reorganization, Max Lousada, CEO, Recorded Music, has decided to step down at the end of the fiscal year (9/30) after eight highly successful years in the role and 20 at WMG. Lousada will remain as an advisor through 1/31.

At the same time, Julie Greenwald has begun a leadership transition, which will see her take on a new role as chairman, Atlantic Music Group, reporting to Robert Kyncl, WMG CEO. Effective 10/1, Elliot Grainge, 10K Projects founder & CEO, will become CEO of Atlantic Music Group, reporting to Kyncl. Continuing the tradition of independently minded entrepreneurs joining WMG, Grainge became part of the global senior management team last year after the company acquired a majority stake in his label.

As of 10/1 the new, flatter structure will elevate creative regional leadership, supported by global services, delivering maximum impact for artists on the world stage. WMG’s Recorded Music regional and divisional leaders will report directly to Kyncl. The roles of CEO, Recorded Music, and president, International, Recorded Music, will be eliminated.

• Europe, Middle East, Africa (EMEA) will be overseen by seasoned exec Simon Robson. The U.K. & Ireland group will now be part of European operations.
• Latin America (LATAM), including WM Latina, will continue to be run by Alejandro Duque, who has made a big impact on the region since joining WMG in 2021.
• Asia Pacific (APAC): A leader will be appointed to the newly created position overseeing the entire APAC region.
• U.S. will be organized in two label groups. Atlantic Music Group, to be run by Elliot Grainge as CEO, already includes Atlantic Records and 300 Elektra Entertainment and will now also encompass recently acquired 10K Projects; A&R exec Craig Kallman will continue to play a role. Warner Records, which has enjoyed a resurgence under Tom Corson and Aaron Bay-Schuck, will include oversight of Warner Music Nashville, along with Nonesuch and Reprise.

At the same time, Warner Music Group is strengthening its central global operations to create new opportunities for artists and drive additional revenue in distribution (via ADA), Global Catalog, Marketing and WMX (including merchandising and direct-to-fan). As a result, starting 10/1, the respective heads of those divisions will report to Kyncl.

"On behalf of everyone at WMG, I’d like to thank Max for his extraordinary achievements over the last 20 years," reads a quote from Kyncl. "Max is a true artists’ champion who created a culture that puts artistry first, growing our global reach and building a roster of incredible talent and an outstanding team. I’m grateful that he’ll be helping to ensure a smooth transition.

“I’m very happy to promote Elliot to his new position and delighted that Julie will be taking on her new role, both of them working with Craig, as we take this iconic label to even greater heights. Elliot has been a stellar addition to WMG’s leadership team, with a distinctive approach to artist development. We have an amazing bench of creative leaders and I’m looking forward to working more closely with them as we collaborate on the company’s next phase of creative excellence, commercial transformation and growing revenues. At a time when global culture moves at the speed of light, we’re doubling down on great artists and diverse music scenes, empowering our talent and team to have maximum impact.”

“Over the past two decades," reads Lousada's statement, "we created something special together at Warner: a music company built for artists where original voices are championed, where their creativity is honored and protected and where superstar careers are ignited. I'm proud to have grown a world-class team that shares that vision and whose enterprise and energy have brought in new labels, rebuilt iconic brands, expanded our global network and pioneered new fan experiences. The music business has always been about evolution and the time has come for me to build something new. I’ll be helping the team through this transition and I have no doubt they’ll continue to develop artists who move the world.”

Greenwald said: “My whole career is about developing baby bands into career artists and empowering our amazing people to change the culture in unexpected ways. It’s been 20 years since I walked through the door at Atlantic and began the work of rearchitecting this iconic label. I couldn’t have done it without the deep passion and dedication of my incredible team and our unbelievable artists, who make music that inspires and moves people everywhere. Finally, I want to welcome Elliot; I’m looking forward to working with him as we continue to place our artists and their music at the heart of this company.”

Grainge said: “It will be a huge honor to join such a legendary label group, partner with its iconic artists and build on the extraordinary achievements of Julie and Craig—they’re leading a second golden age at Atlantic Records. I’m excited to work with the talented team at Atlantic Music Group to take the artists and the brand into fresh territory and continue to nurture 10K’s artists and its unique spirit. Together, we’ll pioneer powerful opportunities for the creative community and raise up a new generation of superstars. In the meantime, I’d like to thank Max for his faith in me and Robert for trusting me with this great responsibility.”