New head of IR for record label behind Ed Sheeran, Bruno Mars and Cardi B
Warner Music Group (WMG), which boasts a roster of artists including Ed Sheeran, Bruno Mars and Cardi B, has named Kareem Chin as its new vice president and head of investor relations.
Based in New York and reporting to CFO Eric Levin and chief communications officer James Steven, Chin joins the music giant after its successful Nasdaq debut in June that saw the company valued at $12.75 bn.
Chin comes to WMG from iHeartMedia, which he joined in May 2019 and where he led the radio and entertainment firm’s IR effort as it emerged from bankruptcy and prepared to go public with plans to use the proceeds to pay off its debts. Having originally filed for an IPO in April, iHeartMedia ultimately opted for a direct listing on Nasdaq, completed in July, that valued it at around $1.1 bn.
Taking up the role at WMG with immediate effect, Chin described himself as a fan of the company’s roster. ‘I’ve always been a fan of WMG’s amazing artists and songwriters, and I’ve been impressed by the company’s independent spirit, its commitment to artistry and innovation, and its financial discipline,’ he says in a company statement.
‘During these challenging times, the recorded music and music publishing industries have proven to be incredibly resilient. What’s inspiring to me about this new role is how WMG is positioned to emerge from the pandemic even stronger than before. I’m really looking forward to being part of the team that makes that vision a reality, and to leading the efforts to involve our investors in our journey.’
As well as leading the label’s IR effort, including strategic engagement with the Street and overseeing key events such as earnings calls and investor conferences, the company says Chin will work closely with both the finance and corporate communications teams ‘to articulate the company’s strategy and results’.
‘It’s an incredibly exciting time for WMG,’ say Levin and Steven in the statement announcing Chin’s appointment. Talking about an ‘explosion in new business opportunities’, they say the firm is focusing not just on streaming, but also on a wide range of avenues including social media, podcasting, fitness, live streaming, virtual reality, video content and more.
‘In this environment, WMG is uniquely positioned for long-term global success and we’ve hired an outstanding IR leader to help us keep our investors informed of our progress,’ Levin and Steven continue. ‘Kareem has great relationships within the finance and investment world and a deep understanding of the media marketplace. His expertise, coupled with his enthusiastic approach, makes him ideally suited to tell our story as we continue to evolve and grow.’
Chin, an MBA graduate in finance and economics from Columbia Business School, previously served as vice president of IR at Viacom after more than a decade in investment banking.