Lyor Cohen Re-upped, Promoted To WMG Chair./CEO of N.A.
March 20, 2008 at 3:50 PM (PT)
WARNER MUSIC GROUP has given LYOR COHEN a five-year extension, a raise and a promotion to Chairman/CEO of NORTH AMERICA, as noted in its recent SEC filing. COHEN's base salary will be doubled to $3 million a year, with a bonus ranging from $1.5 million to $5 million -- and a minimum of $1.5 million.
COHEN will also receive 1.5 million in stock options and 1.75 million in performance-based restricted shares of WMG common stock.