The arrival of Max Lousada as CEO, recorded music at Warner Music Group has prompted a shake-up of the board of directors, which has been increased to 13.
Lousada and Jon Platt, chairman and CEO of Warner/Chappell since May 2016, have been elected by the company’s stockholders. Meanwhile, Warner Bros Records chairman and CEO Cameron Strang has stepped down from the board.
The change was effective from Oct 1, the date on which Lousada officially started in his new role heading up the global recorded music operations at WMG. In the SEC filing, WMG said Lousada and Platt’s “various experiences in the entertainment industry, advising and managing companies… give them the qualifications and skills” to serve on the board.
In a statement, WMG said Lousada and Platt will expand their leadership roles as board members by helping to chart the company’s future direction.
Effective September 15, international economist Noreena Hertz rejoined the board, on which she served from 2014 to 2016.
Len Blavatnik, chairman & founder of Access Industries, said: “As the creative leaders of WMG’s two major divisions, Max and Jon are excellent additions to our board. I am also pleased to welcome Noreena back onto the board, joining an impressive group of experts across business, technology, entertainment and media. I, along with Steve and the other directors, would like to thank Cameron Strang for his service on the board; we are deeply appreciative of his many contributions.”
Steve Cooper, CEO, WMG, said: “I am very pleased to welcome these three leaders to our board of directors. With Max now bringing his entrepreneurial vision to our entire recorded music operation, and Jon leading Warner/Chappell to new heights around the world, they will bring invaluable insight to our board. I’m also delighted that we’ll once again draw on Noreena’s unique global perspective and experience, which were so welcome during her previous tenure."
The changes to the board come ahead of imminent appointments, reported by Variety, of RCA Records president and COO, Tom Corson, and Interscope president of A&R, Aaron Bay-Schuck, who is in the frame as chairman though not expected to leave Universal until next autumn.
Lousada takes up the reins just as the Parlophone Label Group divestment process has concluded and the Q4 release schedule begins. Music Week predicts what Lousada’s WMG will be like in the months ahead and you can read his previous Big Interview here.