Lyor Cohen Resigns As Warner’s CEO Of Recorded Music

Warner Music Group has announced that their Chairman and CEO
of Recorded Music, Lyor Cohen, is stepping down as of September 30^th.
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.

"To all the artists and employees who live and die for
the music every day, and who personally sacrifice for the good of the creative
process: 'keep on keepin' on' in the tradition of a company that respects and
honors the artistic community," Cohen said in a statement.

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 1^st, all WMG senior executives will
be reporting to Cooper.

MORE: Official Press Release Announcing Lyor Cohen's Resignation From Warner Music Group

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