"If no one is bigger than the company, there must be someone at the company who can run it when the founder/CEO retires. There was no one at Warner Music. That’s the story. Executive talent was pushed out the door. Not only Jimmy Iovine, but Mo Ostin and Bob Krasnow. And music impresarios are not fungible. Warner has never fully recovered. The axed Doug Morris went across the street to Universal, hired his old Warner cronies and now that company is dominant…. In the old world Universal’s like Compaq before Dell. Selling a high-priced, excessively tested product. The company is not prepared for the future. We’ll see if Lucian Grainge can replace Doug Morris. But I’ll argue Lucian’s a music man, and that’s not what’s needed right now… Right now, Universal needs different talents, a manager who comprehends the Internet sphere as much as the music. Yes, Lucian should survive, but he should report to someone else. Lucian knows music and..? Michael Dell knows computer manufacturing and..? Nothing. If you’re a believer in Lyor Cohen, I don’t see his replacement in the company. Certainly not Tom Whalley, Whalley’s an artist guy, he’s not about the big picture. And so is Craig Kallman. As for Julie Greenwald, she’s a martinet like Lyor, but she’s always lived in his shadow, what has she done on her own? But at least she learned at Lyor’s feet. Mentoring/grooming of executives is so rare in the major label world. It would be one thing if they were private companies, but they’re not! There’s no B-Team in the old music business world." (LefsetzLetter)
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