NEW YORK (Warner
Music Group/ WMG) - Warner
Music Group (WMG) announced today that Michael D. Fleisher has been named Executive Vice President and Chief Financial Officer. Based in New York, Fleisher will report to WMG Chairman and CEO, Edgar Bronfman, Jr.
For five years, Fleisher, 40, served as Chairman and CEO of Gartner Inc., the world's leading technology research company. In his new position, Fleisher will oversee all finance functions as well as information technology and investor relations for WMG. Michael Ward, WMG's interim CFO, will return to his full-time position as Managing Director of Bain Capital.
In making the announcement, Bronfman said, "Michael brings a wealth of experience in finance and technology and I couldn't be more pleased to welcome him to the Warner Music team. Michael's background, in combination with his vast global business experience and understanding of the impact of technology on content industries, makes him particularly well suited to lead our worldwide financial operations.
In short, Michael has been an innovator everywhere he has worked, and I'm confident that he'll bring the same level of imaginative leadership to the numerous responsibilities he'll be handling for the Music Group. I also want to thank Michael Ward for his outstanding contribution as interim CFO and for deftly guiding WMG's finance functions during our transition to an independent company."
Fleisher said, "I am extremely excited to be joining Edgar and the incredibly talented team at Warner Music. It's so clear to me that there will be tremendous change and upside for those music companies that leverage new technologies and new business models to monetize content. Warner Music is perfectly positioned to take advantage of this changing world and I intend to use my previous experiences in the worlds of finance, technology and content to make sure that happens."
Fleisher joined Gartner in 1993, and subsequently led the company's initial public offering as well as the company's move to the New York Stock Exchange. During his time at Gartner, Fleisher completed more than 30 acquisitions and investments.
In 1998, he was appointed Chief Financial Officer and engineered the company's financial turnaround. One year later, he was named Chief Executive Officer and was responsible for restoring Gartner's leadership in the IT advisory services industry. In 2001, Fleisher was elected Chairman of the Board. Gartner, which has 3,700 associates in 75 international locations, earned total revenues of $858 million in 2003.
Prior to Gartner, Fleisher served as an Associate at Bain Capital, a venture capital and buy-out firm, from 1990 to 1993. From 1987 to 1990, he was a consultant at Bain & Company, a strategy consulting firm.
Fleisher, who holds a bachelor's degree in economics from the Wharton School of Business, serves on the boards of Ameritrade and NYC 2012.
