UPDATE: Warner has now confirmed Music Week's report. Our story from this morning is updated with quotes below.

Warner Music UK CEO Christian Tattersfield is to step down from the company, Music Week can reveal – with Atlantic boss Max Lousada moving up to replace him.

Multiple industry sources have indicated that Tattersfield has decided to leave Warner, and will exit the major in February next year.

Tattersfield and Lousada will become acting joint CEOs of the major label in ...