In 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
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