Warner Music Group will be undergoing a change at the top rung, as Lyor Cohen, the well-respected veteran record executive has announced that he is stepping down as Chairman/CEO.
Cohen will be leaving WMG on September 30th, as reported by Billboard.biz. After assuming the role in 2004, he oversaw the massive Atlantic and Warner Bros. Records. The change comes as Cohen wants to "move on to his next big challenge." In a statement, Cohen asks the creative artists to "keep on keepin' on", saying, via HHDX, "To all the artists and employees who live and die for the music every day, and who personally sacrifice for the good of the creative process: 'keep on keepin' on' in the tradition of a company that respects and honors the artistic community."
After breaking into the industry in the 1980s with Rush Communications, in 1988 Lyor became President of Def Jam, a label vital in the development of urban music in the 80s and 90s. CEO of Warner Music Group, Stephen Cooper issued a statement thanking Lyor for his contributions to WMG through the years: "Lyor Cohen has built something very special here. While we understand his desire to move on to his next challenge, the enduring success of our recorded music division will serve as a great testament to the progress we've made during Lyor's time at WMG. We are grateful for Lyor's contributions, and we wish him the best. I'm confident that given the strength of our talented management team in Recorded Music, we'll be able to drive further success."
