MUMBAI: Warner Music Group recorded music chairman and chief executive officer Lyor Cohen will resign from the company this month.
Cohen, who spent more than eight years at the company’s recorded music operation announced his resignation in a statement stating he was seeking new challenges. He has served as chairman and CEO of recorded music since 2011 and will resign from the company on 30 September.
Following Cohen’s exit, senior label executives will report to Warner Music Group chief executive officer Stephen Cooper.
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His role in the company included overseeing labels like Warner Bros. Records, Atlantic Records and Rhino Entertainment, restructuring the business and leading the transition to digital sales from CDs and other physical formats. During his tenure, Warner Group released albums by The Black Keys, Blake Shelton, Death Cab For Cutie, Bruno Mars, Cee Lo Green and Flo Rida.
Warner Music Group CEO Stephen Cooper said in a statement, “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 have made during Cohen’s time at WMG.”
Cohen joined Warner Music in 2004, after Edgar Bronfman Jr acquired the record company from Time Warner Inc. with private equity firms including Thomas H. Lee Partners Inc. and Bain Capital Partners LLP. He had been chairman and CEO of Universal Music’s Island Def Jam Music Group and earlier worked with Def-Jam co-founder Russell Simmons at Rush Management.
