Record Label Shake Ups, Sales Make For A Tumultuous Year In The Music Industry
Record Label Shake Ups, Sales Make For A Tumultuous Year In The Music Industry

Christina Aguilera
WMG Recorded Music Chairman and CEO Lyor Cohen

In one of his first moves as the head of recorded music operations worldwide, WMG Recorded Music chairman and CEO Lyor Cohen has flattened the company's management structure by creating a global team.

As part of that move, the Warner Music Group has eliminated its European management structure, resulting in the departure of Warner Music Europe and international marketing CEO John Reid and three other executives.

The moves were made to simplify management oversight of the company's key regions, while also integrating digital, finance, catalog, marketing, 360 and distribution into global teams.

In the new structure, a number of executives have been given global responsibilities, including Matt Signore, who will serve as CFO for all recorded music; Steven Bryan who retains responsibility for worldwide digital business development; Mike Jbara who will oversee worldwide distribution, supply chain, merch, digital and physical account management and direct-to-consumer sales; Kevin Gore who will oversee worldwide catalog management and synchronization; and David Marcus, who will oversee 360 deals on a global basis.

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In addition, while Cohen oversees all recorded music operations, he will have direct oversight to North America, France, Germany and the U.K., while Iñigo Zabala, who oversees WMG operations in Latin America will also pick up responsibility for Spain; Lachie Rutherford retains responsibility for the Asia Pacific region and Stu Bergen will get responsibility for overseeing the rest of the world and the company's global priority system for new releases and coordinating worldwide marketing efforts.

Of the above, Jbara, Gore and Marcus report to Roger Gold, senior VP of the office of the chairman & CEO, U.S. recorded music, while the others will report to Cohen. Finally, Matt Flott will be CFO for operations outside the U.S., reporting to Signore.

In addition to simplifying the management structure, it also gives local operations in various countries around the world more autonomy, according to WMG executives.

In a memo to employees Cohen noted that as a result of the structure it means that some "valued colleagues" will be leaving the company.

He noted that Reid, who instead of taking a new role at WMG, has decided to seek new opportunities elsewhere had played a key role "in our remarkable transformation in Europe."

In addition to Reid, Cohen noted that some other "valued colleagues" will be leaving the company, including [senior VP commercial strategy for Europe, Middle East and Asia] Eric Daugan, [senior VP commercial strategy and consumer marketing] Isabel Garvey and [international CFO] Mike Saunter are leaving the company.

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