Warner Music Group boss Steve Cooper is officially stepping down in 2023. The search for his successor has begun.
Steve CooperCEO of Warner Music Grouphas officially announced that he will step down from the leadership position.
However, Cooper won’t be going anywhere for a while.
The US-based CEO told employees in an email today (June 22), first reported by The Wall Street Journal, that he had instructed the WMG board to begin the search for a successor.
This process is expected to be completed in the second half of 2023 (next year).
MBW understands that Cooper will remain as CEO of Warner Music Group until his successor is found and recruited.
(Update: This has now been confirmed by Warner SEC filings, which read: “Mr Cooper has served as CEO since 2011 and will continue to serve as CEO and director for until his replacement is appointed.”)
A candidate to replace Cooper could come from within or outside of Warner Music Group, Cooper’s email said.
Cooper joined WMG in 2011 following the company’s $3.3 billion acquisition by Access industries.
Accessrun by Len Blavatnik, continues to be the majority owner of Warner Music Group, after the music company emerged on the NASDAQ stock exchange in June 2020.
In the latest installment of Warner Music Group full financial year – until the end of September 2021 – the company transfers $5,301 billion15% YoY increase in constant currency.
The year after Cooper took the helm of the music company, in fiscal year 2012 (12 months to the end of September 2012), it generates $2,780 Billion.
Simply put: WMG’s revenue has nearly doubled during Cooper’s 11 years as CEO.
Cooper’s biggest bets as CEO include WMG’s GBP 487 million pounds buyback by Parlophone Label Group in 2013.
He is also the head of Warner Music Group for other big nine-figure acquisitions including Spinnin’ (2017), EMP (
More recent international moves include Warner repurchase of distribution / service companies Qanawat (
Cooper is the longest-serving CEO in WMG’s history.
Prior to joining Warner in 2011, Cooper served as Vice President and member of the CEO’s office of Metro-Goldwyn-Mayer, Inc. and Hawaiian Telcom CEO, among other roles.
An expert on corporate turnaround, he also served as CEO at Krispy Kreme Donuts, as well as CEO and Chief Restructuring Officer of Enron Corp.
In one Worldwide music business interview since 2016, Cooper was asked if he is an entrepreneur or a music man, and he replied: “I have great respect for people who have dedicated their entire careers to the music business. , but that’s not what I did. I have three rules that have served me well, in business and in life.
“First, have fun, because this is not a costume rehearsal. Second, no asshole. It’s a direct correlation to point one. Third, treat everyone fairly and expect to be treated fairly in return.
“So I applied those things here. Right from the start, I knew it was better to be involved in creative decisions.
“We have a lot of really talented people, and I never second guess them. I just want to create an environment where they can do their best work.”Worldwide music business
