Julie Greenwald
Julie Greenwald, the longtime co-leader of Atlantic Records who has become synonymous with the iconic label over the past 20 years, penned an exit letter to the Atlantic staff ahead of her departure from the label. Greenwald’s last day as chair/CEO of Atlantic Music Group will be Sept. 30; she will remain as a consultant through January.
“I’ve been thinking about this goodbye letter for the past few weeks,” Greenwald wrote. “For someone who is never short on words, this one has been a real challenge.”
Greenwald, one of the top leaders in the business overall in the past three decades, became president of Atlantic in 2004, before becoming co-chair/COO in 2006, alongside co-chair/CEO Craig Kallman and chairman/CEO of Atlantic Music Group in 2022. Greenwald and Kallman led the label through a dynamic period in which they helped break superstars such as Ed Sheeran, Bruno Mars, Coldplay, Kelly Clarkson, Cardi B, Foster the People, Charli XCX, Charlie Puth, Lizzo, James Blunt, Portugal The Man, Twenty One Pilots, Panic! At the Disco, Kehlani, Ty Dolla Sign and more. She has built a reputation not just for being beloved by artists, but for being beloved by her staff and as a key mentor in the industry, particularly for rising women executives. She was named Executive of the Year at Billboard’s Women in Music event in 2017, and a fixture on the Power 100 each year.
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Greenwald’s exit is part of the larger overhaul of the Warner Music Group that WMG CEO Robert Kyncl announced in August, which will see her and many of her top Atlantic executives exit the company as Elliot Grainge prepares to take over as Atlantic Music Group CEO on Oct. 1.
Read Greenwald’s full letter below.
To All My Friends, Family and Colleagues,
I’ve been thinking about this goodbye letter for the past few weeks.
For someone who is never short on words, this one has been a real challenge.
I came into Atlantic Records 9 months pregnant with a mission on my back to rebuild the house that Ahmet created.
Lucky for me, I found a partner ready to roll up his sleeves and start something new.
Craig and I were in lock step, sharing one vision, not to be the biggest company in the industry, but to be the best.
We wanted to create a risk taking culture that rewarded creativity.
For all of the old crew, remember our magic number was 34 albums a year. And our strategy worked.
We signed, nurtured and delivered some of the greatest artists on the planet. No matter how long the single took, or how many mixtapes or albums, we stayed in the fight. The weirder the marketing plan, the better.
Our goal wasn’t simply a plaque, but selling lots and lots and lots of hard tickets.
MSG was first in our sights and then came the O2.
World building wasn’t a buzz word we threw out in pitch meetings, but a true accomplishment.
I subscribe all of our successes to the perfect melding of extraordinary artists meet the most gifted employees.
For everyone who has passed through Atlantic High, Elektra, FBR, Roadrunner, 300 and WMG, I can not say thank you enough.
(And when I see you in person, I will properly do so.)
To Lyor, Steve, and Max, I am filled with tremendous gratitude for all the support and generosity you gave us throughout our years.
It was always a team effort.
To my day one partners Craig, Kyser and Sheila, I will be eternally grateful for one of the greatest rides in the history of the music business.
To Len, Robert, Elliot, Zach and Tony, I’m handing over the keys to Ahmet’s house. I wish you all the best and will remain the greatest cheerleader for all things Atlantic.
And to all my artists, I will never stop being your #1 Fan.
Love,
Julie
Julie Greenwald will step down from her role as co-chair/COO of Atlantic Records and chairman/CEO of Atlantic Music Group, she announced during a company town hall on Tuesday (Aug. 6). She will be succeeded in her role as chairman/CEO of Atlantic Music Group by 10K Projects CEO/founder Elliot Grainge, effective Oct. 1.
The Zoom call was roughly 10-15 minutes long, according to sources at the label. Greenwald’s announcement of her departure was said by staffers who spoke with Billboard to be both “classy,” “inspiring” and “empowering,” with the longtime executive focusing on the success she has seen at Atlantic over the last two decades and clarifying that she will officially exit at the end of January 2025.
Tuesday’s announcement comes just five days after it was reported that Warner Music Group would be undergoing a major executive restructuring that would see CEO of recorded music Max Lousada stepping down at the end of September, Grainge ascending to the role of CEO of Atlantic Music Group effective Oct. 1 and Greenwald transitioning to the role of chairman of Atlantic Music Group, a move described in a press release as a “leadership transition.” The changes are thought to be far-reaching and indicative of a generational shift at Warner Music Group, which has been helmed by CEO Robert Kyncl since Jan. 1, 2023.
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One of the most celebrated executives in the music business, Greenwald has spent the last 20 years of her career at Atlantic and become practically synonymous with the storied label. During her time at the helm of Atlantic Music Group, she shepherded the careers of artists such as Bruno Mars, Ed Sheeran, Cardi B, Twenty One Pilots, Brandi Carlile, Charli XCX, Lil Uzi Vert and dozens more. She was named Billboard’s Women in Music executive of the year in 2017.
Greenwald led Atlantic alongside Craig Kallman, co-chair/CEO of Atlantic Records and the A&R brain behind the operation. Kallman will continue to hold the title of CEO of Atlantic Records.
At the time of the restructuring announcement, Greenwald said in a statement: “My whole career is about developing baby bands into career artists and empowering our amazing people to change culture in unexpected ways. It’s been 20 years since I walked through the door at Atlantic and began the work of rearchitecting this iconic label. I couldn’t have done it without the deep passion and dedication of my incredible team, and our unbelievable artists, who make music that inspires and moves people everywhere. Finally, I want to welcome Elliot; I’m looking forward to working with him as we continue to place our artists and their music at the heart of this company.”
Additional reporting by Melinda Newman.
Atlantic Music Group chairman/CEO Julie Greenwald announced layoffs of about two dozen people Monday (Feb. 26), primarily in the radio and video departments, in an internal memo to staff obtained by Billboard. As part of the announcement, Greenwald also said the company would be “bringing on new and additional skill sets in social media, content creation, community building and audience insights,” with the goal of “dial[ing] up our fan focus and help[ing] artists tell their stories in ways that resonate.”
Greenwald, who has been at Atlantic Records for 20 years, was named chairman/CEO of the newly-formed Atlantic Music Group in October of 2022, with oversight of Atlantic Records and its subsidiaries (Atco, Big Beat, Canvasback) as well as 300 Elektra Entertainment, which includes 300, Elektra, Fueled By Ramen, Roadrunner, Low Country Sound, DTA and Public Consumption. In that role, she is still co-chair/COO of Atlantic Records alongside co-chair/CEO Craig Kallman.
“Our artists today need more support from us than ever — in a world that’s getting noisier, faster, and more fiercely competitive,” Greenwald wrote. “We have to do more, but at the same time, our approach has to be authentic, bold, and bespoke to individual artists. We can’t impact culture if we don’t have the right mix of people who live that culture. That’s why we need dedicated teams of multi-talented, ambidextrous people — our ‘SWAT teams’ — who encircle the artist and do everything possible to help achieve their full potential.”
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The news comes three weeks after Warner Music Group CEO Robert Kyncl announced that WMG would be cutting its staff by 10%, or some 600 employees, amid a broader reallocation of resources that will involve selling its owned and operated media properties, such as HipHopDX and Uproxx. That move came the same day that Warner announced it had had its best quarter ever, with revenue up 17% to $1.75 billion, and that the moves would be about freeing up some $200 million to reinvest in the company.
However, Greenwald made a point to write that this move was not about merging or shuttering labels, but about repositioning the label group for the future. “We’ve all heard the same industry rumors about labels being reduced or merged into one another. I can tell you: this is not that,” she wrote. “We’re deeply committed to the unique cultures across our labels, led by 300, Elektra and Atlantic. Craig, Kevin [Liles, CEO of 300 Elektra], and I passionately believe these identities are crucial to attracting great artists and building great careers. We want artists to be choiceful about the culture and team they belong with, just as we’re thoughtful about deciding which artists we’re signing.”
Read Greenwald’s full note to staff below.
Dear Atlantic, Elektra and 300,
Two weeks ago, during the all hands call you heard Robert and Max talk about the evolution of our music company. They tasked us last year to examine our staffing and ask the tough question, how do we achieve maximum impact for our artists in this ever changing landscape?
As hard as it is to say goodbye to our friends and valued colleagues, it is critical that we keep retooling the company and add new resources and skill sets to our business units. I have now been at Atlantic for 20 years. The company has grown and evolved tremendously, because we have not been afraid to implement change and add new marketers, new A & R, new data and research and even new labels. Always evolving but with a consistent North Star : sign the best musicians and commit to the hardest work of building real careers through true artist development.
Our artists today need more support from us than ever – in a world that’s getting noisier, faster, and more fiercely competitive. We have to do more, but at the same time, our approach has to be authentic, bold, and bespoke to individual artists. We can’t impact culture if we don’t have the right mix of people who live that culture. That’s why we need dedicated teams of multi-talented, ambidextrous people – our ‘SWAT teams’ – who encircle the artist and do everything possible to help achieve their full potential.
The changes we’re making today are primarily happening in our radio and video teams. We’ll preserve our industry-leading position in those areas, while bringing on new and additional skill sets in social media, content creation, community building and audience insights. This will allow us to dial up our fan focus and help artists tell their stories in ways that resonate.
As part of this shift, I’m sorry to say about two dozen people will be leaving us from across our three labels and their imprints. We’ve already informed everyone who is impacted. I know we will all support each other, even more than usual, and I deeply appreciate your empathy and understanding.
We’ve all heard the same industry rumors about labels being reduced or merged into one another. I can tell you: this is not that. We’re deeply committed to the unique cultures across our labels, led by 300, Elektra and Atlantic. Craig, Kevin, and I passionately believe these identities are crucial to attracting great artists and building great careers. We want artists to be choiceful about the culture and team they belong with, just as we’re thoughtful about deciding which artists we’re signing.
Right now, there’s incredible music coming through from artists across the entire group. We have some of our biggest superstars returning, and some extraordinary new artists we’re building in a very real way. We’re taking the right step into the future, and I hope you’ll continue to share your ideas with senior management so we can continually improve.
Thank you.
Julie
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