Warner Music CEO Lyor Cohen Consolidates Power As Friends Rise, Foes Exit
Warner Music reorganized its international management structure, and Lyor Cohen is the winner with several key execs moving up and others moving out. According to Variety, Cohen will assume direct oversight of operations in North America, France, Germany and the U.K. Inigo Zabala, WMG president of Latin America will handle operations in Spain and Latin America while Lachie Rutherford will continue to oversee WMG's Asia and Pacific operations.
WEA President/CEO Mike Jbara is now tasked with overseeing global distribution. Rhino Entertainment president Kevin Gore is moving up to worldwide catalog and sync rights management and WMG SVP David Marcus will be overseeing international 360-deals.
Meanwhile, Warner Music International SVPs Eric Daugan and Isabel Garvey and CFO Mike Saunter l join Warner Music Europe CEO John Reid in exiting the company. Reid, who has been with WMG for eleven years in a variety of capacities, including head of Island Def Jam Records US and most recently as CEO of Warner Europe.
"Now, as we approach the next stage in the company's evolution, our global management structure will be redefined. And that has spurred me to consider what my new role should be," wrote Reid in a staff memo obtained by Variety. "Looking back on all our successes, I've decided that - rather than take a new role inside the company - the time was right to move on to my next adventure. While the decision was difficult, I depart with the comfort of knowing that all of our good work ensures a great future." - via CelebrityAccess