Grand Opening, Grand Closing: Lyor Cohen Stepping Down As Warner Music Chairman/CEO

After eight years with Warner Music Group, music executive Lyor Cohen is stepping down as Chairman/CEO on September 30. It is rumored that former EMI CEO Roger Faxon will take over as Chairman/CEO of Warner. Below are some excerpts from Billboard:

To all the artists and employees who live and die for the music every day, and who personally sacrifice for the good of the creative process: ‘keep on keepin’ on’ in the tradition of a company that respects and honors the artistic community,” said Cohen

Len Blavatnik, chairman and founder of Access Industries (they purchased Warner last year), said, “I personally want to thank Lyor for his dedication and contributions to Warner Music.  He has been both a business partner and personal friend and I wish him only the best.”

Stephen Cooper, WMG’s CEO, said, “Lyor Cohen has built something very special here.  While we…

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