August 17, 2005
Atlantic Records CEO Flom resigns from company
NEW YORK (Reuters) - Jason Flom, chairman and chief executive of Warner Music Group Corp.'s Atlantic Records, has resigned his post, the company said on Wednesday.
Warner Music Group appointed Atlantic co-Chairman and Chief Operating Officer Craig Kallman as chairman and CEO, effective immediately.
Flom had run Atlantic since shortly after a group of private investors led by Edgar Bronfman Jr. bought the global music company from Time Warner Inc. His departure followed a series of clashes with Warner Music U.S. chief Lyor Cohen, according to the New York Times.
Warner Music officials were not immediately available for comment. Earlier this month, the company posted a narrower-than-expected loss, helped by hit albums from Green Day and Michael Buble and improved sales of online music.
The company said that Lava Records, a joint venture between Flom and Atlantic, would become a wholly owned unit of Atlantic Records Group.
Posted by MK Magazine at August 17, 2005 08:37 PM