Atlantic Music Group (AMG) in the US is set to reveal its reorganisation plan next week.
In a memo to staff seen by Music Week, Warner Music CEO Robert Kyncl said that the major will be “unveiling a new dynamic structure for the label group” in the days ahead.
Elliot Grainge officially starts as CEO of Atlantic Music Group on October 1.
Long-term Atlantic exec and leader Julie Greenwald, who recently transitioned to the chair role at AMG, will depart at the end of the month. A 20-year staffer at Atlantic, she will continue to consult until January.
In addition, Kevin Liles is to step down as CEO & chairman of 300 Elektra Entertainment.
The reorganisation at AMG will see a reduction in staff across the company.
“I want to acknowledge the hard work, passion, and creativity of everyone across Atlantic, 300, and Elektra,” wrote Robert Kyncl in the memo. “In particular, I want to thank the people who will be leaving us. You’ve made an indelible mark on this company and the careers of the extraordinary artists you’ve championed. Words never cut it in these situations but we’re forever grateful for all your contributions and achievements over the years. We wish you the very best and know that you will continue to do great things in your next chapters.”
Grainge is set to make an announcement about the new AMG leadership team.
“WMG is transforming swiftly this year, in a fast-paced, fiercely competitive industry,” wrote Kyncl in the memo. “As always, delivering outstanding results for artists and songwriters is our highest priority in all our choices.”
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