Photo Credit: Matt Furman (Julie Greenwald)
Julie Greenwald is saying ‘no thanks’ to the Warner Music Group re-organization effort, which saw her promoted to Atlantic Music Group Chairman. According to reports emerging late Tuesday (August 6th), she will depart the company next year after stepping down this year into an advisory role.
Sources speaking to Variety report Greenwald will exit her role in January despite being elevated to chairman stripes a few days ago. Greenwald’s been with Atlantic for 20 years and was expected to remain as chairman as Elliot Grainge assumed the CEO role in October.
Greenwald reportedly announced her decision to leave in January during a staff meeting, with sources noting that she reassured her longtime staff, but said they should “process the coming changes today, but get back to work tomorrow.”
Variety further reports that Greenwald is supported in this decision by her mentor, former Warner Music head Lyor Cohen. Cohen apparently reminded his mentee that she’s “Julie Fucking Greenwald”—i.e., one of the most successful music executives of the last 25 years. It looks like that self-image isn’t getting properly validated by WMG CEO Robert Kyncl’s reorg.
A quick summary of WMG’s recent overhaul: Max Lousada, CEO of recorded music will step down at the end of the fiscal year, remaining as an advisor through January 31st, 2025. On October 1st, Elliot Grainge will become CEO of Atlantic Music Group, reporting directly to Robert Kyncl.
Grainge became part of the global senior management team last year and is the son of UMG Chairman-CEO Lucian Grainge. Atlantic Records Chairman-CEO Craig Kallman is expected to shift back into a more A&R oriented role.
Warner Music says the restructure will help it better enhance artist services, streamline global operations, and position the company for sustained growth. The structure has shifted to a more ‘flat’ organizational layout, cutting out bureaucracy and confusion with cleaner reporting lines to leadership for senior execs. The new structure eliminated the roles of ‘CEO, Recorded Music’ and ‘President, International, Recorded Music.’
Regional and divisional leaders will still report directly to Robert Kyncl.
