Sources confirmed to The Atlantic Group that the group's chairman, Julie Greenwald, will exit the company entirely at the end of January. diverseWhile the executive, who has been with Atlantic for 20 years, was expected to remain with the company as president after new CEO Elliot Grainge takes over in October, she announced her decision to leave at a staff meeting on Tuesday. The news was first reported by The Hits.
Sources say diverse Greenwald assured the staff — many of whom have worked with her for a decade or more — that she would be fine, that they should deal with the changes today, but that they should get back to work tomorrow and focus on supporting the label’s artists and releases — a statement that was met with cheers from the assembled staff. She also said she received support in her decision from her mentor, former Warner Music chairman Lyor Cohen, who she said referred to her as “f**king Julie Greenwald,” one of the most successful music executives of the past 25 years. More than one person at the meeting described her comments as “elegant.”
The plan is for her to step down as CEO after the company's fiscal year-end on Sept. 30 and stay on board to advise Greene until the end of January, the sources said.
Greenwald’s announcement comes just five days after a series of major changes at the top of Warner’s recorded music operations. Max Losada, the company’s 20-year recorded music chief executive, will step down at the end of the fiscal year, though he will remain as an advisor through Jan. 31, 2025.
On October 1, Grainge, founder and CEO of 10K Projects, will take over as CEO of Atlantic Music Group, reporting to Kyncl. Grainge, the son of Universal Music Group chairman and CEO Lucian Grainge, became part of the global senior management team last year after the company acquired a majority stake in his flagship label. Atlantic, which already includes the Elektra label, will now include 10K under its tutelage.
Atlantic Records Chairman and CEO Craig Kallman, who has spent more than 30 years at the company and has been one of the most successful talent scouts during that time period, will move into a more talent-focused role, which has largely been the case since he and Greenwald were appointed to their leadership roles more than 20 years ago, essentially managing the music while she ran the company.
