With rumours abound about his next move, Lyor Cohen has gotten a vote of confidence from artist and former Def Jam president Jay-Z.
The Roc-A-Fella Records founder - who worked with Cohen when the exec ran Def Jam himself - told the New York Post, “[Lyor] is a safe harbour for all artists. You look at his track record, and he can do anything. He could run a big major or start his own thing.”
According to The Post, Cohen is indeed toying with the idea of setting up his own company, specifically, a new artist management and branding firm.
A source close to Cohen said that the Warner boss, who will leave his role as chairman and CEO of WMG’s recorded music on September 30, had been in contract discussions with WMG CEO Stephen Cooper before his exit was announced.
“They weren’t seeing eye to eye on the strategy,” the insider told The New York Post. “It was better to part ways; he didn’t see himself having a role going forward.”
Cohen was the chairman and CEO of Universal Music Group’s Island Def Jam Music Group from 2002 to 2004 after serving as president of Def Jam from 1988 to 2002.
Previously, Cohen served in various capacities at Rush Management which he founded with partner Russell Simmons.