Big news in the industry today with the announcement of Cohen’s resignation from Warner Brothers. His departure was expected by many but certainly surprised some. Why did he leave?

According to Billboard:

“Even more intriguing is why Cohen is leaving, with the reasons unclear at press-time. While there have been rumors that Cohen was clashing with the new ownership of Len Blavatnik, who bought the company in May 2012, and could be leaving for greener pastures, those rumors previously have been labeled as nonsense by sources within the company. Yet, other sources said at the time that executive compensation was supposedly behind that clash. Cohen signed a five-year contract in 2008 worth at least $5 million a year including bonuses plus millions of stock options before the company was taken private in 2011.”

With Cohen being promoted to the head of recorded music operation on a worldwide basis, a new contract that dealt with bonuses and his new position was needed, but the two sides could never agree on terms, according to sources. Some sources within the company said the reason why the contract issues wasn’t resolved was simply due to how to structure incentives and bonuses in the absences of publicly traded stock. But other sources suggested that the disagreement centered on whether record industry compensation was out of line with what Access Industries was used to paying its senior management.

Other issues may also be involved with Cohen’s resignation. As it is, sources say that while Cohen is a proven leader in building successful record labels and scoring hit records, Blavatnik and Cooper felt he came up short in articulating the financial and technological strategies and issues his team were navigating in the music industries increasingly digital environment.

In turn, sources say that while Cooper was brought in to instill financial disciplines that Access Industries likes to have in place for its portfolio companies, now that he has accomplished that, he doesn’t have the vision or skills to run a major record label which involves juggling relationships with egotistical artists and picking talented A&R executives as well as prudent financial management. Those sources seem him as a caretaker until a new executive is brought in to run the company. Still, other sources suggest that Cooper would like to stay at the helm of the company.”

Buzz Track: More To Life Than You

Check out the track More To Life Than You by Young Science. The latest self titled EP was produced by Steve Murr (Smash Mouth) and the band has shared the stage with Of Monsters And Men, Silversun Pickups, and Fun.

Contact: ron@soundmgt.com

Billy Joe, singer of Green Day loses it after he discovered his set time was shortened to make room for more acts.

“With nearly a quarter of a century of music under their belts they certainly have plenty of material. So perhaps it is understandable why Green Day frontman Billie Joe Armstrong went on a foul-mouthed tirade after his band’s playing time was cut to make way for Usher at the iHeartRadio festival in Las Vegas.The 40-year-old Dookie star flew off the handle when he discovered 20 minutes were getting shaved off their set to make room for more mainstream acts. “The video of the rampage is here.

The Top 8 Emerging Artists…

1) The Unlikely Candidates – Follow My Feet
2) Sonnet – Oh You’re The One
3) Irontom – Mind My Halo
4) Dynasty Electric – Eyes Wide Open
5) Bess – Better Off Without You
6) Shannon Labrie – Secret
7) Kingsfoil – What Your Mother Taught You
8) A Lion Named Roar- This Won’t Last For Long

Buzz Track: 30k

Check out the track 30k from singer-songwriter Jana Fisher. She is based out of NYC and writes spunky folky piano pop. She has a new EP entitled Ideals & Deals coming out October and will promote her EP performing at coffee houses and listening rooms, such as Googie’s and Sidewalk Cafe in NYC, Cannon Coffee in Pittsburgh, and Black Fox Lounge in DC.

Contact: jana@janafisher.com