Eric Levin, EVP and Chief Monetary Officer, Warner Music Group, has confirmed he’ll retire from the corporate by the top of 2023.

Levin joined WMG in 2014, having held quite a few senior govt posts within the US and Larger 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 group that led Warner by a profitable IPO on the NASDAQ in 2020.

Previous to becoming a member of WMG, Levin was a CFO at firms together with HBO (1988-2002), the South China Morning Publish Group (2009-2011), and tech and manufacturing group, Ecolab (2012-2014).

Levin introduced his determination to retire in an inside memo at WMG immediately (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 group all over the world.

“I’d additionally prefer to thank all of the gifted individuals I’ve met at WMG, and specific my gratitude to Robert [Kyncl], Steve [Cooper], and my colleagues on the Government Management Staff, to Len [Blavatnik], Lincoln [Benet], Don [Wagner], and everybody at Entry, in addition to our Board of Administrators.

“I really 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 function shall be very lucky,” added Levin. “I’m wanting ahead to serving to set them up for one more profitable decade of development.”

In his personal memo to WMG employees, additionally despatched immediately and obtained by MBW, Robert Kyncl stated: “On the proper time, we’ll rejoice [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 operating an intensive search, chatting with 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 development and profitability, making vital contributions to its long-term technique and the funding of its world enlargement and main acquisitions.

“He was an integral member of the group 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 incredible group, and strengthened our fiscal self-discipline.

“Evidently, Eric shall be leaving WMG in a significantly better place than when he joined it.”Music Enterprise Worldwide