Warner Music Group: Warner Chappell Co-Chair/COO to Step Down

What Happened

• Warner Music Group (WMG) announced on Sept. 21, 2026 (8-K filed Sept. 22, 2026) that Carianne Marshall will step down as Co-Chair and Chief Operating Officer of Warner Chappell Music, a WMG subsidiary, effective Sept. 30, 2026.
• Ms. Marshall will remain employed through Jan. 8, 2027 to provide transition and advisory services under a Separation Agreement dated Sept. 22, 2026.

Key Details

• Separation Agreement signed Sept. 22, 2026.
• Ms. Marshall will receive a gross severance payment equal to 18 months of her annual salary as of Jan. 8, 2027.
• She remains eligible for her 2026 annual bonus per her employment agreement and will receive a pro‑rated bonus for fiscal 2027.
• Additional payments include a $116,000 lump sum and a one‑time equity award with a grant‑date value of $1,500,000.
• The full Separation Agreement will be filed with WMG’s Form 10‑K for the fiscal year ending Sept. 30, 2026.

Why It Matters

• This is an executive leadership change at Warner Chappell Music, WMG’s publishing arm, with a defined transition period to help continuity.
• The separation terms include cash severance and a sizable equity grant that may affect compensation expense or equity dilution; details will be included in the forthcoming Form 10‑K.
• Investors should note the change for governance and management continuity considerations and review the Separation Agreement when it is filed for full terms.