WMG Chairman/CEO Lyor Cohen To Resign
September 24, 2012 at 3:21 PM (PT)
WARNER MUSIC GROUP (WMG)/Recorded Music Chairman/CEO LYOR COHEN will resign, effective SEPTEMBER 30th, 2012. after more than eight years at the company. Since joining WMG in 2004, COHEN was responsible for the restructuring of WMG’s Recorded Music division following the company’s acquisition from TIME WARNER, and for leading the division’s transition from a physical to a digital music company.
Following COHEN’s departure, the company’s senior label executives will report directly to WMG CEO STEPHEN COOPER, who said, "LYOR COHEN has built something very special here. While we understand his desire to move on to his next challenge, the enduring success of our recorded music division will serve as a great testament to the progress we’ve made during LYOR’s time at WMG. We are grateful for LYOR’s contributions, and we wish him the best. I’m confident that given the strength of our talented management team in Recorded Music, we’ll be able to drive further success."
"To all the artists and employees who live and die for the music every day, and who personally sacrifice for the good of the creative process: ‘keep on keepin’ on’ in the tradition of a company that respects and honors the artistic community," COHEN said.
ACCESS INDUSTRIES Chairman/Founder LEN BLAVATNIK stated, "I personally want to thank LYOR for his dedication and contributions to WARNER MUSIC. He has been both a business partner and personal friend and I wish him only the best.