Warner Music Group Adds Three to Board of Directors

Warner Music Group's busy year continues. The major has elected three new members to its board: Mathias Döpfner, Noreena Hertz and Oliver Slipper. The three will increase the board's chair count to 11, up from 8.

Döpfner brings extensive media experience to the table, serving as editor-in-chief of German newspaper Die Welt and previously working in the same role for Wochenpost and Hamburger Morgenpost.

Hertz is a corporate strategist and author of 'Eyes Wide Open' and 'The Silent Takeover,' as well as an honorary professor at University College London's Centre for the Study of Decision-Making.

Slipper also brings high-level media experience to the table. He is currently the joint CEO of Perform Group PLC, a digital rights business based in London. Perform Group's majority shareholder is also Warner Music Group's owner, Len Blavatnik.

“Mathias, Noreena, and Oliver are all noted business innovators with unique global perspectives," said Blavatnik in a statement. "Their guidance will help chart our course as the most nimble and artist-friendly music company."


"With their combined rich backgrounds in media, entertainment, and economics, they bring us a wealth of expertise and a range of insight," WMG CEO Steve Cooper said in a statement.

As Cooper and Blavatnik point out, the three new members are expected to bring a more holistic perspective to WMG's board, which is currently staffed with Access and/or WMG insiders, outside of Thomas H. Lee, founder of a successful equity firm that shares his name.

The three join WMG as the company has recently made several substantial moves  -- striking a deal with lost prodigy Prince, tech partnerships, high-level departures, the paring-down of assets following its Parlophone acquisition, and a big move into China, announced earlier this week.

It's not all exciting (or positive) however, as the company deals with its $3.1 billion debt, which it has refinanced three times since Access Industries bought the company in 2011.