Warner Music Group streamlines ops structure, Recorded Music CEO Lousada steps down (WMG) Ahmed Farhath, 8/1/2024 Warner Music Group announces a significant restructuring, leading to the departure of Recorded Music CEO Max Lousada after two decades. The new ops will streamline leadership, with Elliot Grainge stepping in as CEO of Atlantic Music Group and regional leaders reporting directly to WMG's CEO, Robert Kyncl. Warner Music Group (NASDAQ:WMG) said on Thursday that Max Lousada, CEO of its Recorded Music business, has decided to step down after eight years in the role and 20 years at WMG, as part of an operations structure streamlining. In the new structure, WMG will neither have the roles of CEO, Recorded Music nor President, International, Recorded Music. Lousada will remain as an advisor through January 31 but step down from his roles on September 30. Julie Greenwald will take on a new role as chairman of Atlantic Music Group, reporting to WMG CEO Robert Kyncl. Effective October 1, Elliot Grainge, 10K Projects founder and CEO, will become CEO of Atlantic Music Group, reporting to Kyncl. WMG's Recorded Music regional and divisional leaders will report directly to Kyncl. The UK & Ireland group will now be part of European operations. LATAM, including WM Latina, will continue to be run by Alejandro Duque, who joined WMG in 2021. An Asia Pacific leader will be appointed to the newly created position overseeing the entire APAC region. US will be organized in two label groups. Atlantic Music Group, to be run by Elliot Grainge as CEO, and 10K Projects. For its central global operations, heads of Distribution, Global Catalog, Marketing, and WMX will report to Kyncl, effective October 1. Press Release.
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