The Warner Music Group is undergoing a major executive restructuring that will see CEO of Recorded Music Max Lousada step down at the end of September, the company announced today (Aug. 1). Lousada, who has run the recorded music operation of the major label for eight years, will remain an advisor until January 31, the company said; Lousada’s role will cease to exist moving forward, as will the role of president of international.
As part of the transition, longtime co-leader of Atlantic Records and Atlantic Music Group chairman/CEO Julie Greenwald will now take on the role of chairman of Atlantic Music Group, reporting directly to WMG CEO Robert Kyncl. Meanwhile, 10k Projects founder Elliot Grainge will ascend to the role of CEO of Atlantic Music Group effective October 1, also reporting to Kyncl.
The change will see 10K shift under the Atlantic Music Group umbrella, alongside Atlantic Records, Elektra and 300. Meanwhile, Warner Records — led by co-chair/CEO Aaron Bay-Schuck and co-chair/COO Tom Corson — will oversee Warner Music Nashville, in addition to Nonesuch and Reprise.
“On behalf of everyone at WMG, I’d like to thank Max for his extraordinary achievements over the last 20 years,” Kyncl said in a statement. “Max is a true artists’ champion, who created a culture that puts artistry first, growing our global reach and building a roster of incredible talent and an outstanding team. I’m grateful that he’ll be helping to ensure a smooth transition.”
“Over the past two decades, we created something special together at Warner: a music company built for artists, where original voices are championed, where their creativity is honored and protected, and where superstar careers are ignited,” Lousada said in a statement. “I’m proud to have grown a world-class team who share that vision and whose enterprise and energy have brought in new labels, rebuilt iconic brands, expanded our global network, and pioneered new fan experiences. The music business has always been about evolution, and the time has come for me to build something new. I’ll be helping the team through this transition, and I have no doubt they’ll continue to develop artists who move the world.”
The changes at Warner are far-reaching and represent a generational change, particularly at Atlantic, where Greenwald had been co-chair/COO alongside co-chair/CEO Craig Kallman for nearly 20 years. Kallman, according to the company, will continue to work in an A&R capacity at Atlantic Records, while Greenwald’s new role is described as part of a “leadership transition.”
“My whole career is about developing baby bands into career artists and empowering our amazing people to change culture in unexpected ways,” Greenwald said in a statement. “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.”
Grainge, meanwhile, has been with Warner for less than a year, after bringing 10K from Universal to Warner in a joint venture last September, a move that made 10K, at least for the time being, a standalone label. Grainge, the son of Universal Music Group chairman/CEO Lucian Grainge, has had a string of successes since launching 10K in 2016, including with XXXTentacion, Trippie Red and, most recently, Ice Spice.
“I’m very happy to promote Elliot to his new position, and delighted that Julie will be taking on her new role, both of them working with Craig, as we take this iconic label to even greater heights,” Kyncl continnued. “Elliot has been a stellar addition to WMG’s leadership team, with a distinctive approach to artist development. We have an amazing bench of creative leaders, and I’m looking forward to working more closely with them, as we collaborate on the company’s next phase of creative excellence, commercial transformation, and growing revenues. At a time when global culture moves at the speed of light, we’re doubling down on great artists and diverse music scenes, empowering our talent and team to have maximum impact.”
“It will be a huge honor to join such a legendary label group, partner with its iconic artists, and build on the extraordinary achievements of Julie and Craig — they’re leading a second golden age at Atlantic Records,” Grainge said in a statement. “I’m excited to work with the talented team at Atlantic Music Group to take the artists and the brand into fresh territory, and continue to nurture 10K’s artists and its unique spirit. Together, we’ll pioneer powerful opportunities for the creative community and raise up a new generation of superstars. In the meantime, I’d like to thank Max for his faith in me and Robert for trusting me with this great responsibility.”
This is a developing story.
