Warner Music Group Announces Major Executive Restructure, Max Lousada to Step Down
Written by djfrosty on August 1, 2024
The Warner Music Group is undergoing a major executive restructuring that will see CEO of Recorded Music Max Lousada step down at the end of September, the company announced today (Aug. 1). Lousada, who has run the recorded music operation of the major label for eight years, will remain an advisor until January 31, the company said; Lousada’s role will cease to exist moving forward, as will the role of president of international.
As part of the transition, longtime co-leader of Atlantic Records and Atlantic Music Group chairman/CEO Julie Greenwald will now take on the role of chairman of Atlantic Music Group, reporting directly to WMG CEO Robert Kyncl. Meanwhile, 10k Projects founder Eliot Grainge will ascend to the role of CEO of Atlantic Music Group effective October 1, also reporting to Kyncl.
The change will see 10K shift under the Atlantic Music Group umbrella, alongside Atlantic Records, Elektra and 300. Meanwhile, Warner Records — led by co-chair/CEO Aaron Bay-Schuck and co-chairCOO Tom Corson — will oversee Warner Music Nashville, in addition to Nonesuch and Reprise.
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“On behalf of everyone at WMG, I’d like to thank Max for his extraordinary achievements over the last 20 years,” Kyncl said in a statement. “Max is a true artists’ champion, who created a culture that puts artistry first, growing our global reach and building a roster of incredible talent and an outstanding team. I’m grateful that he’ll be helping to ensure a smooth transition.”
“Over the past two decades, we created something special together at Warner: a music company built for artists, where original voices are championed, where their creativity is honored and protected, and where superstar careers are ignited,” Lousada said in a statement. “I’m proud to have grown a world-class team who share that vision and whose enterprise and energy have brought in new labels, rebuilt iconic brands, expanded our global network, and pioneered new fan experiences. The music business has always been about evolution, and the time has come for me to build something new. I’ll be helping the team through this transition, and I have no doubt they’ll continue to develop artists who move the world.”
This is a developing story.