Friday, August 19, 2011
Bronfman changes to chairman at WMG
Warner Group is shuffling a set of top executive roles, as former Boss Edgar Bronfman, Junior., continues to be named chairman from the board of company directors and ex-chairman Stephen F. Cooper continues to be chosen as WMG's Boss.Switch in responsibilities is available in the wake of Access Industries' purchase of WMG for $3.3 billion (Daily Variety, This summer 21).Bronfman described inside a statement, "Given my desire to pay attention to growth possibilities and Steve's extensive background in management across several companies and industries, Thx that Steve recognized the sale to alter roles and also to function as our Boss.I anticipate ongoing our effective partnership."Cooper is another person in the supervisory board of Lyondell/Basell Industries, the Nederlander petrochemical firm possessed by Access Industries, along with a controlling partner of equity firm Cooper Investment Partners.Furthermore, Thomas H. Lee, formerly a WMG board member, continues to be chosen like a new director of the organization, growing the board's size from nine to 10 people. Lee's private equity finance firm, Thomas H. Lee Capital, would be a partner within the 2004 acquisition of WMG from Time Warner.The background music firm also introduced Friday that Lyor Cohen and Cameron Strang would stay in place as chairman-Boss of recorded music and chairman-Boss of Warner/Chappell Music. Both males will report straight to Cooper. Contact the range newsroom at news@variety.com
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