Is Warner Music Stock a Buy After New CEO Hire?
Music publishing giant Warner Music Group (NASDAQ: WMG) has found a new CEO. The new leader comes with an excellent and highly relevant pedigree, and Warner Music might stand on the doorstep of a golden age today.
Robert Kyncl left his post as the chief business officer of YouTube, an Alphabet company, three weeks ago. The rumor mill immediately started discussing his potential to take the CEO office at Warner Music. Industry watchers argued that his 12-year stint as strategy developer and partnership promoter at the giant video service had taught him everything a top-level leader in the music business needs to know.
This week, the rumor-spinners were proven right because Kyncl accepted Warner Music's top title. He will start his new job on Jan. 1, serving as co-CEO with current CEO Steve Cooper for the first month. This stepwise transition should make the power transfer as smooth and painless as possible.
Source Fool.com
