Warner Music Group Opens New Financial Shared Services Center In Nashville
Warner Music Group (WMG) announced the creation of a new center of excellence for Shared Services in Nashville, Tennessee. To establish the new center, WMG will move some of its US departments, including the US Accounting Operations, Cash Management and Recorded Music Rights Administration. By combining these financial, legal, and administrative functions under one roof, the company will be well positioned to develop expertise, processes, and best practices in Shared Services for its US recorded music and music publishing divisions.
Located at Nashville City Center and due to open in mid-2017, the center will employ up to 175 people, with staff either joining the company or relocating from New York and Los Angeles through mid-2018. Warner Music’s longstanding Nashville presence on Music Row will remain at its current location under the leadership of John Esposito, Chairman and CEO of Warner Music Nashville, and Ben Vaughn, EVP, Warner/Chappell Nashville.
Leading Warner Music Group’s new center will be Kris Ahrend, who is being promoted to President, Shared Services from SVP, Royalties. Ahrend will report to Eric Levin, CFO, Warner Music Group, and will assume his new responsibilities immediately. Ken Williams will join the center as Chief Financial Officer, Shared Services, reporting to Ahrend. Currently SVP, Finance for Warner Music Nashville, Williams will transition to his new position in early 2017.
“I am excited to be leading Warner Music’s new center. It will be a dynamic new organization attracting top-notch talent, all dedicated to delivering best-in-class services and positioning our company for long-term growth,” said Ahrend. “Our hope is that the center will become a hub of innovation, allowing us to develop new financial, legal, and administrative leaders by providing ongoing support, training, and opportunities for advancement. I look forward to working alongside Ken to build this exciting new team.”
“As we all know, Nashville is not only home to the best artists and songwriters, but it has a vibrant and growing economy. The top talent in the world can be found here, our company already has a strong presence in the community, and the City and State have been tremendous at helping us establish our new location downtown,” said Esposito. “Nashville is the perfect home for Warner Music’s newly created division, and I look forward to welcoming our colleagues to Music City.”
Source: Warner Music
