Steve Cooper [154 articles]” href=”https://www.musicbusinessworldwide.com/people/steve-cooper/”>Steve Cooper, the CEO of Warner Music Group [2,100 articles]” href=”https://www.musicbusinessworldwide.com/companies/access-industries/warner-music-group/”>Warner Music Group, has officially announced he is stepping down from the leadership position.
Cooper won’t be going anywhere for some time yet, though.
The US-based executive has told staff in an email today (June 22), first reported by the Wall Street Journal, that he has instructed the WMG board to begin a search for his successor.
This process is expected to be complete in the second half of 2023 (next year).
MBW understands that Cooper will remain as CEO of Warner Music Group until his successor has been found and hired.
A candidate to replace Cooper could come from inside or outside of Warner Music Group, said Cooper’s email.
Cooper joined WMG in 2011 following the company’s $3.3bn acquisition by Access Industries [318 articles]” href=”https://www.musicbusinessworldwide.com/companies/access-industries/”>Access Industries.
Access Industries [318 articles]” href=”https://www.musicbusinessworldwide.com/companies/access-industries/”>Access, run by Len Blavatnik, continues to be the majority owner of Warner Music Group, following the music company’s flotation on the NASDAQ stock exchange in June 2020.Music Business Worldwide