Eric Levin, EVP and Chief Monetary Officer, Warner Music Group, has confirmed he’ll retire from the corporate by the tip of 2023.
Levin joined WMG in 2014, having held various senior govt posts within the US and Better China.
Levin was employed at Warner by former WMG CEO, Steve Cooper, three years after Entry Industries acquired the foremost music firm for $3.3 billion.
Throughout Levin’s tenure, Warner Music Group’s annual revenues have grown from $3.027 billion (FY 2014) to $5.919 billion (FY 2022).
He was a key a part of the workforce that led Warner by means of a profitable IPO on the NASDAQ in 2020.
Previous to becoming a member of WMG, Levin was a CFO at corporations together with HBO (1988-2002), the South China Morning Put up Group (2009-2011), and tech and manufacturing group, Ecolab (2012-2014).
Levin introduced his choice to retire in an inside memo at WMG right this moment (March 14), obtained by MBW.
In it, Levin stated: “Though I’m not leaving for a lot of months but, I’ll take this chance to applaud our superb, hard-working finance workforce around the globe.
“I’d additionally wish to thank all of the proficient folks I’ve met at WMG, and categorical my gratitude to Robert [Kyncl], Steve [Cooper], and my colleagues on the Government Management Group, to Len [Blavatnik], Lincoln [Benet], Don [Wagner], and everybody at Entry, in addition to our Board of Administrators.
“I like working with you, and being a part of this extraordinary firm that’s all about teamwork, ardour, and ingenuity. However, after a transformative decade at WMG, culminating in an IPO after which a CEO transition, I’m able to go the baton to a brand new CFO.”
Levin confirmed that he and Robert Kyncl – who succeeded Steve Cooper as WMG’s CEO in January – would collectively be trying to find a brand new CFO within the months forward.
“Whoever takes this position will likely be very lucky,” added Levin. “I’m trying ahead to serving to set them up for an additional profitable decade of progress.”
In his personal memo to WMG employees, additionally despatched right this moment and obtained by MBW, Robert Kyncl stated: “On the proper time, we’ll have fun [Eric’s] retirement. However for now, I’m very grateful he’s agreed to remain, assist us discover his successor, and guarantee a easy transition. We’ll be working a radical search, talking to candidates each inside and exterior.”
Added Kyncl: “When he arrived at WMG in 2014, Eric and his household had simply moved from China, and the music trade was at its nadir. He helped WMG return to progress and profitability, making vital contributions to its long-term technique and the funding of its world growth and main acquisitions.
“He was an integral member of the workforce that led the IPO and, as I’ve seen firsthand, he’s been a extremely efficient ambassador for our firm with traders. Alongside the way in which, he’s constructed an important workforce, and strengthened our fiscal self-discipline.
“Evidently, Eric will likely be leaving WMG in a a lot better place than when he joined it.”Music Enterprise Worldwide