A management shuffle at Warner Music Group: Lyor Cohen, last seen selling about 25% of his WMG holdings while the company argues that its shares are undervalued, has gotten a promotion, and the company has a new CFO.
UP: Cohen, promoted from head of WMG’s US recorded music to Vice Chairman, which means that he now oversees UK and Latin America.
Michael Fleisher, former EVP and CFO, is also a Vice Chairman! He’s now in charge of strategy and operations, where he “will lead the transformation of WMG’s business models and operational processes”. But he still has to handle IR.
Steven Macri, former SVP and controller, is now CFO.
OUT: Patrick Vein, former head of Warner Music International. His old unit is now getting chopped up into several pieces. Full play-by-play here.
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