18-year vet Chassagne will continue to run Up
PARIS — Warner Music Group, purchased in March by a private equity investor group including Edgar Bronfman Jr., has named Thierry Chassagne head of its French unit.
He will report to Warner Music Intl. CEO Paul-Rene Albertini.
An 18-year vet, Chassagne has held positions in France at Sony Corp.’s music arm and at Richard Branson’s V2 Music. Chassagne will continue to operate Up Music, a label he founded two years ago
Chassagne is taking over after the Gallic music market, the fourth largest in the world, declined 14.4% last year. Until 2003, France had held up better than the global market thanks to the sale of CDs by local artists.
Warner Music and rivals are cutting jobs worldwide to reduce expenses. Warner Music and EMI both announced plans to cut 2,500 jobs, 20% of their workforce, earlier this year.