Steve Cooper: Read the full memo announcing his Warner Music Group exit3 min read
Earlier right now, MBW described that Steve Cooper, the extensive-time CEO of Warner Audio Group, is stepping down from that situation.
Cooper has been CEO of WMG for 11 years. He disclosed the news of his exit in a memo to team these days (June 22), which MBW has now attained it is available to go through in complete under (in italics).
As you can see in the notice, Cooper confirms that he will be remaining WMG’s CEO until eventually a successor is uncovered – a recruitment method in which he appear established to choose an energetic part.
That successor isn’t anticipated to be picked and hired until the second half of up coming calendar year. Cooper nods to this in his notice: “We be expecting the transition to take place by the end of 2023.”
I desired you to listen to it from me very first: I’ve informed Len and our Board of Directors that we ought to start out the lookup for my successor. The procedure of finding a new CEO will consider time, and we’ll be on the lookout at candidates both internally and externally. We hope the changeover to transpire by the conclusion of 2023.
When I arrived in this article in the summertime of 2011, a great deal of individuals figured I’d only be right here a yr or two. But eleven years afterwards, I’m now 6 decades into my profession, and of anything I have finished, this is the position I’ve loved the most. I’m happy to say that I’m the longest managing CEO in WMG’s history. This is a fantastic enterprise, and I’m excited to aid select my successor.
“We’re just at the commencing of a new golden age of music, and WMG is fantastically positioned for ongoing progress and innovation, with new alternatives emerging each and every working day.”
In the meantime, if any individual asks you about this news, you can merely say it is organization as normal. We’re increasing our investment in artists and songwriters. We’re evolving our company society and creating our dynamic, numerous staff. We’re dramatically developing our international footprint and earning transformational acquisitions. We’re developing on our standing as the fastest-moving, most forward-thinking important. We’re just at the commencing of a new golden age of music, and WMG is superbly positioned for continued expansion and innovation, with new options rising each working day.
I know Max, Dude, Carianne, and the overall senior administration all concur – what matters most is the audio. So make sure you, let us continue to keep up the good function. The major explanation I have stayed in this article as extended as I have is simply because of all of you – the fantastic folks of WMG. I can not wait around to see what the upcoming holds for this wonderful crew.
Onward, forward, and upward.
Warner Tunes Group’s annual revenues have practically doubled since Cooper became the firm’s CEO in 2011.
In Warner Songs Group’s latest total fiscal 12 months – to the end of September 2021 – the business turned over $5.301 billion, up 15% YoY at frequent currency.
The year immediately after Cooper took demand of the new music firm, in fiscal 2012 (the 12 months to end of September 2012), it generated $2.780 billion.Music Company Worldwide