Warner Music names YouTube exec Robert Kyncl as CEO effective Jan 1, 2023; Cooper to retire Jan 31

Warner Music Group Corp.

Robert Kyncl, YouTube's Chief Business Officer, named WMG CEO effective Jan 1, 2023; will join board Feb 1.
Stephen Cooper to retire Jan 31, 2023; Kyncl and Cooper will serve as Co-CEOs in January 2023 for transition.
Kyncl compensation: $2M base salary, $3M target cash bonus, $10M annual PSUs, and $10M one-time option award in Jan 2024.
Severance: $15M payment if terminated without cause or for good reason; full vesting of equity upon change in control within one year.
Cooper retirement benefits: continued $3M salary through FY2023, two $7M RSU grants, and target $7M bonus for FY2022 & FY2023.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Stephen Cooper

Chief Executive Officer

WMG · Warner Music Group Corp.

Effective: 2023-01-31
Successor: Robert Kyncl
Filed: September 23, 2022, 7:59 PM ET

On January 31, 2023, Mr. Cooper will retire from the Company and resign from the Board.

Appointed

Robert Kyncl

Chief Executive Officer

WMG · Warner Music Group Corp.

Effective: 2023-01-01
Filed: September 23, 2022, 7:59 PM ET

On September 21, 2022, the Company’s Board of Directors (the “Board”) announced that Mr. Robert Kyncl has been appointed to succeed Mr. Cooper as CEO and a director of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Stephen Cooper departed as Chief Executive Officer at Warner Music Group Corp..

Action: retire
Role: Chief Executive Officer

Exact text from the filing

On January 31, 2023, Mr. Cooper will retire from the Company and resign from the Board.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Robert Kyncl was appointed as Chief Executive Officer at Warner Music Group Corp..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On September 21, 2022, the Company’s Board of Directors (the “Board”) announced that Mr. Robert Kyncl has been appointed to succeed Mr. Cooper as CEO and a director of the Company.

View on SEC.gov

Warner Music Group Corp. filing history →

Source: SEC EDGAR

accession 0001193125-22-250270

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