Warner Music To Become Run By MGM Turnaround Professional Stephen Cooper

What were individuals at Access Industries searching for inside a candidate to exchange Edgar Bronfman Junior as Boss of Warner Music? Somebody that knows the background music industry thoroughly -- or who are able to hob-nob with Warner's money-makerssuch as In Demand Chili All kinds of peppers, Missy Elliot, Randy Travis, and Aretha Franklin? Apparently not. The pr release aboutStephen Cooper's new gigrunning Warner Music notes that heis about the board of "among the world's biggest olefins, polyolefins, chemicals and refining companies" -- and it has "a lot more than 3 decades of expertise like a financial consultant." I guess Warner did not wish to come out and state that Cooper is really a turnaround expert that has labored with corporate basket cases including Enron, KrispyKreme Inflatible donuts, and many lately MGM because it experienced personal bankruptcy. Bronfman maintained looks, stating that Warner Music is "well-situated because of its next exciting chapter." He'll switch jobs with Cooper, who was simply chairman, to satisfy "my desire to pay attention to growth possibilities." Cooper will handle day-to-day procedures. Lyor Cohen, who runs the recorded music unit, and Cameron Strang, who's responsible for posting operation Warner/Chappell Music, will are accountable to Cooper. He might have to make lots of large choices soon: Warner is among the leading bidders for EMI because the auction, run by Citigroup, makes its way into its home stretch. Additionally towards the Cooper appointment, Warner added financier Thomas H. Lee to its board, growing the amount of company directors to 10.