Warner/Chappell Music senior VP-CFO Brian Roberts will take over as Warner Music Group CFO by Jan. 1, succeeding Steven Macri, who is exiting the company.
Roberts has held his post at WMG’s publishing arm since 2007; he was previously senior VP, finance and administration, for North and South America at BMG Music Publishing.
Macri has served as exec VP-CFO since 2008. He will stay on board at WMG through the end of the year to ensure a smooth transition.
Macri is exiting WMG with a gilt-edged parachute payment. A filing with the SEC on Thursday said that as part of a separation agreement, Macri will be paid severance of $1.2 million, a $600,000 bonus for the 2011 fiscal year and a prorated portion of his $600,000 target bonus for the 2012 fiscal year.
WMG chairman of the board Edgar Bronfman, Jr., said in a statement, “Steve Macri has done an outstanding job, overseeing our global financial operations with skill and vision, and putting in place a team of top-flight financial executives, including Brian Roberts. Brian’s financial acumen and deep understanding of the music industry and the company make him the ideal candidate to fill this vital role.”
News of Roberts’ new role came a day after an extensive reorg of exec duties on WMG’s international side (Variety, Nov. 10).