Eric Levin, EVP and Chief Financial Officer, Warner Music Group, has confirmed he will retire from the company by the end of 2023.
Levin joined WMG in 2014, having held a number of senior executive posts in the US and Greater China.
Levin was hired at Warner by former WMG CEO, Steve Cooper, three years after Access Industries acquired the major music company for $3.3 billion.
During 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 part of the team that led Warner through a successful IPO on the NASDAQ in 2020.
Prior to joining WMG, Levin was a CFO at companies including HBO (1988-2002), the South China Morning Post Group (2009-2011), and tech and manufacturing group, Ecolab (2012-2014).
Levin announced his decision to retire in an internal memo at WMG today (March 14), obtained by MBW.
In it, Levin said: “Although I’m not leaving for many months yet, I will take this opportunity to applaud our amazing, hard-working finance team around the world.
“I’d also like to thank all the talented people I’ve met at WMG, and express my gratitude to Robert [Kyncl], Steve [Cooper], and my colleagues on the Executive Leadership Team, to Len [Blavatnik], Lincoln [Benet], Don [Wagner], and everyone at Access, as well as our Board of Directors.
“I love working with you, and being part of this extraordinary company that’s all about teamwork, passion, and ingenuity. But, after a transformative decade at WMG, culminating in an IPO and then a CEO transition, I’m ready to pass the baton to a new CFO.”
Levin confirmed that he and Robert Kyncl – who succeeded Steve Cooper as WMG’s CEO in January – would jointly be searching for a new CFO in the months ahead.
“Whoever takes this role will be very fortunate,” added Levin. “I’m looking forward to helping set them up for another successful decade of growth.”
In his own memo to WMG staff, also sent today and obtained by MBW, Robert Kyncl said: “At the right time, we’ll celebrate [Eric’s] retirement. But for now, I’m very grateful he’s agreed to stay, help us find his successor, and ensure a smooth transition. We’ll be running a thorough search, speaking to candidates both internal and external.”
Added Kyncl: “When he arrived at WMG in 2014, Eric and his family had just moved from China, and the music industry was at its nadir. He helped WMG return to growth and profitability, making important contributions to its long-term strategy and the funding of its global expansion and major acquisitions.
“He was an integral member of the team that led the IPO and, as I’ve seen firsthand, he’s been a highly effective ambassador for our company with investors. Along the way, he’s built a great team, and strengthened our fiscal discipline.
“Needless to say, Eric will be leaving WMG in a much better place than when he joined it.”Music Business Worldwide
Leave a Reply