The Warner Music Group said Wednesday that it has begun legacy planning for CEO Stephen Cooper and plans to announce a new CEO by the end of 2023.
Cooper, 75, who has held the position since 2011, will continue to serve as CEO and director until his successor is appointed. The WMG board will examine the inside and outside of the company. Inside. Max Lusada, CEO of WMG Recorded Music, is considered the most likely candidate.
The executive led WMG through its initial public offering in June 2020. He helped transform the company into the age of streaming and oversaw global expansion, digital diversification, and mergers and acquisitions, including Parlophone Label. Group, Gold Typhoon, Spinnin ‘, Africori and 300. ᲒEntertainment. He founded the film and television division, Warner Music Entertainment, and helped develop a direct customer support network that includes EMP, HipHopDX, IMGN, Songkick and UPROXX.
Cooper is a turnaround expert who has held positions in many industries. Previously, he was Vice President and CEO of Metro-Goldwyn-Mayer; CEO of Hawaii Telcom, CEO of Blue Bird Corp .; CEO of Collins & Aikman Corporation; CEO of Krispy Kreme Donuts; Director of restructuring of CEP and Enron Corp .; And chairman of LyondellBasell Industries’ restructuring committee.
WMG is controlled by billionaire Len Blavatnik Access Industries.
Source: Deadline
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