Warner Music Group has announced today that Lyor Cohen is stepping down as Chairman/CEO position starting September 30. In 2004, Lyor left Island Def Jam for his former position at WMG. Cohen says:

To all the artists and employees who live and die for the music every day, and who personally sacrifice for the good of the creative process: ‘keep on keepin’ on’ in the tradition of a company that respects and honors the artistic community.”

WMG CEO Stephen Cooper chimes in:

Lyor Cohen has built something very special here.  While we understand his desire to move on to his next challenge, the enduring success of our recorded music division will serve as a great testament to the progress we’ve made during Lyor’s time at WMG.  We are grateful for Lyor’s contributions, and we wish him the best.  I’m confident that given the strength of our talented management team in Recorded Music, we’ll be able to drive further success.”

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