Julie Greenwald, Atlantic Group’s Chairman, will leave the company at the end of January, according to Variety sources.
Greenwald, who was initially anticipated to remain chairman when Elliot Grainge took over as CEO in October, announced her retirement during a staff meeting on Tuesday. Hits was first to report the news.
During the discussion, Greenwald, who has been with Atlantic for 20 years, promised her team—many of whom had worked with her for more than a decade—that she would be fine.
She asked them to quickly adapt to the future changes while continuing to support the label’s artists and releases. The crew applauded her statement.
She also stated that her mentor, former Warner Music CEO Lyor Cohen, supported her decision, reminding her of her great career by calling her “Julie Fucking Greenwald,” one of the most accomplished music executives in the last 25 years. Attendees referred to her statements as “classy.”
According to insiders, Greenwald will stand down as CEO after the company’s fiscal year finishes on September 30, but will continue to assist Grainge until the end of January.
Greenwald’s revelation comes after significant changes to Warner’s recorded music operations. Max Lousada, recorded music CEO and 20-year veteran, will likewise step down at the end of the fiscal year but will continue to serve as an advisor until January 31, 2025.
Starting October 1, Grainge, the creator and CEO of 10K Projects, will become CEO of Atlantic Music Group, reporting to Kyncl.
Grainge, the son of Universal Music Group chairman and CEO Lucian Grainge, joined the global senior management team last year after Atlantic purchased a majority investment in his creative label. Atlantic, which owns the Elektra label, will now manage 10K.
Craig Kallman, Atlantic Records’ chairman-CEO and company veteran of over 30 years, will take on a more A&R-focused role.
This transition is consistent with the leadership structure established more than 20 years ago when he and Greenwald were hired, with Kallman managing the music and Greenwald controlling the corporation.
