Warner Music Execs Expected to Resign

A number of senior executives in AOL Time Warner’s Warner Music Group are expected to resign by next week as part of the latest shake-up at what was once the world’s biggest record conglomerate.

Russ Thyret, chairman of flagship label Warner Bros. Records, is expected to resign by the end of the week, sources said. Thyret, a 30-year veteran of the company, is still working out details of his severance package.

His departure had been expected since Warner Music Group Chairman Roger Ames hired Interscope executive Tom Whalley last year to run Warner Bros.’ record division. Whalley’s contract at Interscope doesn’t expire until January 2002, however.

Ames, hired in 1999 to run Warner’s struggling music division, also is retooling his management team. Ames is expected to hire financial whiz Helen Murphy, with whom he worked while running PolyGram’s global music division, sources said. Murphy would replace Jerry Gold, who is expected to resign today.

Once the most respected operation in the music business, Warner’s share of overall U.S. music sales has dropped from 22% in 1995 to about 16%, according to SoundScan.