Warner Music Group Announces Major Executive Restructuring

In a significant shake-up, Warner Music Group (WMG) has unveiled a major executive restructuring, which will result in the departure of CEO of Recorded Music Max Lousada at the end of September. As part of the transition, Julie Greenwald, the longtime co-leader of Atlantic Records and Atlantic Music Group chairman/CEO, will take on the role of chairman of Atlantic Music Group. Meanwhile, Elliot Grainge, founder of 10k Projects, will be promoted to the position of CEO of Atlantic Music Group. These changes mark a generational shift and aim to streamline WMG's operations.

Lousada, who has led the recorded music operation of the major label for eight years, will remain as an advisor until January 31. However, his role will no longer exist moving forward, and the position of president of international will also be eliminated. Lousada's accomplishments over his 20-year tenure at WMG were lauded by CEO Robert Kyncl, who emphasized Lousada's dedication to putting artists first and growing the label's global reach.

Greenwald, who has been a prominent figure in the music industry for the past two decades, will now assume the role of chairman of Atlantic Music Group. She expressed her excitement about the new position and praised the passion and dedication of her team, as well as the incredible artists who have shaped the iconic label.

Grainge, who recently brought 10k Projects to Warner Music Group, will step into the role of CEO of Atlantic Music Group on October 1. His distinctive approach to artist development and previous successes, including collaborations with XXXTentacion, Trippie Red, and Ice Spice, have positioned him as a valuable addition to WMG's leadership team.

Under the restructuring, 10K will be integrated into the Atlantic Music Group umbrella, joining Atlantic Records, Elektra, and 300. Warner Records, led by co-chair/CEO Aaron Bay-Schuck and co-chair/COO Tom Corson, will expand its oversight to Warner Music Nashville, as well as Nonesuch and Reprise.

The executive transitions at WMG are part of a broader restructuring effort, resulting in a "flatter structure" and a strengthened central global operations team. Moving forward, heads of various departments such as global catalog, marketing, distribution company ADA, and fan and merch division WMX will report directly to CEO Robert Kyncl.

While these changes represent a significant shift for WMG, the company is optimistic about the future and is committed to providing continued support and opportunities for its artists. The transition is expected to bring fresh perspectives and contribute to the company's overall goal of creative excellence, commercial transformation, and revenue growth.

As WMG enters this new chapter, it expresses gratitude to Max Lousada for his invaluable contributions and dedication throughout his tenure. The company is confident that with the leadership of Julie Greenwald and Elliot Grainge, along with the talented team at WMG, they will continue to foster a flourishing music community and pave the way for the next generation of superstars.