Atlantic Group chairman Julie Greenwald will exit the company entirely at the end of January, sources confirm to PvNew. While the executive, who has been with Atlantic for 20 years, was expected to remain at the company as chairman after incoming CEO Elliot Grainge takes his post in October, she announced her decision to leave at a staff meeting on Tuesday. The news was first reported by Hits.
Sources tell PvNew that Greenwald reassured the staff — many of whom have worked with her for a decade or more — that she would be fine, and that they should process the coming changes today, but to get back to work tomorrow and focus on supporting the label’s artists and releases — a statement that was met with a cheer by the assembled staff. She also said she was supported in her decision by her mentor, former Warner Music chief Lyor Cohen, who she said reminded her that she’s “Julie Fucking Greenwald,” one of the most successful music executives of the past 25 years. Her comments were described as “classy” by more than one person at the meeting.
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Sources say the plan is for her to step aside as CEO after the end of the company’s fiscal year on September 30 and to remain on board to advise Grainge until the end of January.
Greenwald’s announcement comes just five days after a series of major changes at the top of Warner’s recorded music operations. Max Lousada, CEO of recorded musicand a 20-year veteran of the company, will step down at the end of the fiscal year, although he also will remain as an advisor through Jan. 31, 2025.
On October 1, Grainge, 10K Projects founder & CEO, will become CEO of Atlantic Music Group, reporting to Kyncl. Grainge, son of Universal Music Group chairman-CEO Lucian Grainge, became part of the global senior management team last year, after the company acquired a majority stake in his trailblazing label.Atlantic, which already includes the Elektra label, will now include 10K under its purview.
Atlantic Records chairman-CEO Craig Kallman, a 30-plus year veteran of the company and one of the most successful A&R people of that same time period, will shift into a more A&R-oriented role, which has largely been the case since he and Greenwald were appointed to their leadership roles more than 20 years ago, which saw him essentially handling the music while she ran the company.
