The longtime co-leader of the iconic label will be leaving her position as CEO of Atlantic Music Group next week after 20 years.
The new executive structure will include several Atlantic veterans as well as former 10K Projects executives, as the new-look Atlantic takes shape.
This year’s restructuring plan has reduced WMG’s head count by 750 and will save $260 million annually.
Warner Music CEO Robert Kyncl announced that additional employees will be departing the label as Elliot Grainge prepares to take over as CEO.
Tracing the rapid ascent of the 30-year-old record executive (and son of UMG’s Lucian Grainge), from his early entrepreneurial ventures to his industry-shaking new role.
The changing of the guard at Atlantic Records could signal the acceleration of a generational shift — or just another sign that the old rules no longer apply.
Elliot Grainge, who has publicly criticized major labels, will now helm Atlantic Music Group. Those who have worked with him predict how that change may go.
The longtime Atlantic Records co-leader and Atlantic Music Group chairman/CEO announced at a town hall that she will depart at the end of January.
In the new structure, Atlantic's longtime co-leader Julie Greenwald will become chairman of Atlantic Music Group, with Elliot Grainge stepping into the role of CEO.
Chair/CEO Julie Greenwald said the layoffs will be "primarily happening in our radio and video teams," adding that new hires will come on in digital and social media roles.
