investor relations

Mike Jbara Named President and CEO, WEA Corp.

NEW YORK, NY, Sep 01, 2009 (MARKETWIRE via COMTEX) -- WEA Corp., the U.S. sales and retail marketing company of Warner Music Group Corp. (NYSE: WMG), announced today the promotion of Mike Jbara to President and CEO. Jbara succeeds John Esposito, who has been named President, Warner Music Nashville, a new division tasked with expanding WMG's presence in the Nashville music community. Based in New York, Jbara will report to Roger Gold, Senior Vice President, Office of the Chairman & CEO, Recorded Music - the Americas and the UK. In his new role at WEA, Jbara will be responsible for setting the company's overall strategic direction and continue to oversee WEA's day-to-day operations, including retail sales, direct-to-consumer sales, production and distribution, merchandise sales, interactive marketing and worldwide digital distribution.

Said Gold, "Over the years Mike has proven himself not only as an effective operator but also an innovator who understands new business models and who has played a key leadership role in defining those models and applying the new technologies that make them possible. In running WEA's day-to-day business for the past five years, he has also shown that he knows how to position a music company to best take advantage of opportunities presented by new business models and technologies and, as a result, WEA's role as a sales and marketing division has evolved significantly. To have a chief executive who understands the rapidly changing role of a music company in today's environment is a terrific asset for WEA and we are happy to have Mike here to lead the company going forward."

"It is an honor to be given the reigns at WEA at this exciting and challenging time," said Jbara. "In my 13 years as an executive here I have seen first-hand the professionalism that this team brings to every deal and every project. They have a commercial skill set and creative approach that our label partners and their artists have grown to expect and appreciate, and are without question the best in the business, which will make fulfilling my new responsibilities that much more rewarding. I am proud to have this opportunity to lead WEA into its next chapter. I want to thank Espo for not only being a great boss and mentor, but for his invaluable friendship. I look forward to working with him in his new role at Warner Music Nashville."

Since 2005 Jbara has served as WEA's Executive Vice President and Chief Operating Officer and, before that, as Senior Vice President, Production and Media Operations. From 2003 to 2005 he served as Vice President, Production and Media Operations, where he oversaw the company's entire U.S. production and global digital operations. In that time, WEA has transformed itself from WMG's traditional manufacturing and distribution division into a company that also manages the digital mastering, storage and delivery of digital music files to retailers such as Amazon, iTunes, Napster, 7digital and Wal-Mart, as well as providing digital content to mobile operators, ISPs and other service providers. In 2001, Jbara moved to Burbank, CA to become Vice President, Operations and Studio Services where he was instrumental in the creation of WEA's online music and in-house studio operations, which performs audio preparation, digital mastering and content quality control for the digital supply chain.

Jbara joined the company in 1996 as Vice President, Production Operations where he led the day-to-day production operations on behalf of WMG's family of labels.

Before joining WEA, Jbara started the New York-based Media and Entertainment Practice at Andersen Consulting and served as a Senior Manager from 1987 to 1995. In this role, Jbara launched a number of client projects across consumer and industrial product industries.

Jbara holds a Bachelor of Science Degree in Engineering from the University of Michigan.

About WEA Corp.

WEA Corp. was the first major music distribution company in the U.S. and has continued to set the standard for sales and marketing in the music industry for more than 35 years. WEA Corp. distributes audio and video content for all Warner Music Group labels, including Atlantic, Warner Bros. and Rhino Entertainment, as well as for third-party film, television and video game companies across an array of physical and digital platforms including online, mobile and wireless networks. Since 2004, WEA Corp. has been recognized by a number of national conservation and advocacy organizations for its industry-leading environmental efforts which formally became Warner Music Group's comprehensive environmental campaign, WMGreen, in 2008.

Headquartered in New York, WEA Corp. has regional offices in Atlanta, Los Angeles and Minneapolis.


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SOURCE: Warner Music Group