The Deal
Saturday, July 4, 
9:05 pm

Warner Music reorganizes to drive international growth

[ Share ]  [ E-mail ]  [ Leave a Comment ]
cohen_lyor.jpgIn an effort to better manage its global operations and "drive new growth opportunities," Warner Music Group has shaken up its senior leadership and implemented a new organizational structure. In announcing the changes, WMG chief executive Edgar Bronfman Jr. said, WMG "can no longer organize the company as simply 'U.S.' and 'non-U.S.' operations."

To that end, the position of chief executive, Warner Group International has been eliminated, putting Patrick Vien out of job. Global operations will now be managed by a newly created Office of the Chairman, to be led by Lyor Cohen and Michael Fleisher. Cohen, who previously headed WMG's U.S. recorded music operations, will become CEO of Recorded Music-Americas, and the U.K. Fleisher was the company's CFO and will now become vice chairman, strategy and operations. In addition to overseeing global strategy, Fleisher will continue to lead corporate development. Controller Steven Macri is now CFO.

The ability to distribute music digitally has the major record companies looking to expand their worldwide audiences. On Sept. 8 WMG and EMI Music announced a partnership to co-distribute music in Southeast Asia. The deal builds on an existing partnership that has the companies working together in India, the Middle East and North Africa. WMG has experienced steady growth in overseas sales, but overall performance is still sluggish. The company's stock has declined by about 70% over the past two years. - Suzanne Stevens


Join Corporate Dealmaker's LinkedIn forum

Comments
Post a comment


Search


Search For

Decade of The Deal

Corporate Dealmaker Video


Vanterra's Shad Azimi on PE's evolution

Vanterra Capital's Azimi on how PE firms are investing in management to increase the value of their portfolio companies.


Movers & Shakers


Cuong Viet Do
Tyco Electronics Ltd.

Ram Ramakrishnan
Millipore Corp.

Cliff Miller
DeviceVM Inc.

Sam Wick
News Corp.

Arturo Gomez
Purfresh Inc.
Cuong Viet Do, Tyco Electronics Ltd.
Ram Ramakrishnan, Millipore Corp.
Cliff Miller, DeviceVM Inc.
Sam Wick, News Corp.
Arturo Gomez, Purfresh Inc.


COMPLETE MOVERS & SHAKERS ARCHIVES

The Magazine


MACDdec1cover.gifAnd the winners are...
Even in a period when things like toxic credit default swaps and noxious structured investment vehicles dominate the conversation in many parts of the deal community, people are still willing to take the time to recognize skill and achievement in the strategic transactions that help those companies adapt and grow.
View the complete issue


Last Issue
Archives
Suggest a topic
Purchase a reprint
Subscribe to The Deal


Monthly Archives


Syndicate

Contributors

footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.