Atlantic Group chairman Julie Greenwald will exit the corporate totally on the finish of January, sources affirm to Selection. Whereas the manager, who has been with Atlantic for 20 years, was anticipated to stay on the firm as chairman after incoming CEO Elliot Grainge takes his submit in October, she introduced her determination to depart at a workers assembly on Tuesday. The information was first reported by Hits.
Sources inform Selection that Greenwald reassured the workers — a lot of whom have labored together with her for a decade or extra — that she can be high-quality, and that they need to course of the approaching adjustments as we speak, however to get again to work tomorrow and concentrate on supporting the label’s artists and releases — an announcement that was met with a cheer by the assembled workers. She additionally mentioned she was supported in her determination by her mentor, former Warner Music chief Lyor Cohen, who she mentioned reminded her that she’s “Julie Fucking Greenwald,” one of the crucial profitable music executives of the previous 25 years. Her feedback have been described as “stylish” by multiple particular person on the assembly.
Sources say the plan is for her to step apart as CEO after the top of the corporate’s fiscal 12 months on September 30 and to stay on board to advise Grainge till the top of January.
Greenwald’s announcement comes simply 5 days after a collection of main adjustments on the high of Warner’s recorded music operations. Max Lousada, CEO of recorded music and a 20-year veteran of the corporate, will step down on the finish of the fiscal 12 months, though he additionally will stay as an advisor via Jan. 31, 2025.
On October 1, Grainge, 10K Tasks founder & CEO, will turn into CEO of Atlantic Music Group, reporting to Kyncl. Grainge, son of Common Music Group chairman-CEO Lucian Grainge, turned a part of the worldwide senior administration staff final 12 months, after the corporate acquired a majority stake in his trailblazing label. Atlantic, which already contains the Elektra label, will now embody 10K underneath its purview.
Atlantic Data chairman-CEO Craig Kallman, a 30-plus 12 months veteran of the corporate and one of the crucial profitable A&R folks of that very same time interval, will shift right into a extra A&R-oriented function, which has largely been the case since he and Greenwald have been appointed to their management roles greater than 20 years in the past, which noticed him basically dealing with the music whereas she ran the corporate.