Warner Music Group has announced that their Chairman and CEO of Recorded Music, Lyor Cohen, is stepping down as of September 30th. Cohen, who had been with the company since 2004, is credited for restructuring the Recorded Music division after joining Warner nearly eight years ago – witnessing several hits with artists like The Black Keys, Bruno Mars, Cee Lo Green and more.
Warner Music CEO Stephen Cooper has said that he understands Cohen's "desire to move on to his next challenge."
"Lyor Cohen has built something very special here,” Cooper said. “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."
As of October 1st, all WMG senior executives will be reporting to Cooper.MORE: Official Press Release Announcing Lyor Cohen's Resignation From Warner Music Group