Thomas H. Lee, a billionaire financier primarily based in New York who served on Warner Music Group‘s board for almost 20 years, was discovered lifeless yesterday in Manhattan aged 78.
Lee stepped down as a board director at WMG in 2021 following 17 years of service, however subsequently continued his affiliation with the music firm as Director Emeritus.
The entrepreneur and personal fairness pioneer had an extended and important historical past with Warner Music: In 2004, he led the investor group that bought the corporate from Time Warner.
Lee established his personal agency, Thomas H Lee Companions, in 1974.
The Financial Times experiences that the corporate is “a boutique funding outfit that perfected the early artwork of leveraged buyouts and grew to turn out to be one of many business’s largest corporations by the mid-Nineteen Nineties after a string of profitable offers highlighted by the takeover of beverage firm Snapple”.
In a press release issued in the present day (February 24), Robert Kyncl, CEO of Warner Music Group, stated: “We’re deeply saddened by the passing of our good friend and colleague Tom Lee. Tom made worthwhile contributions to WMG’s trajectory for nearly 20 years. He was a part of the unique investor group that acquired WMG from Time Warner in 2004, and he served as a director of our firm from 2004 till 2021, when he grew to become Director Emeritus.
“Tom’s expertise, knowledge, and enthusiastic help helped information WMG by means of durations of main transformation, each inside our firm and within the music business at giant. Our condolences exit to his household and plenty of mates.”
Lee’s household stated in a press release: “The household is extraordinarily saddened by Tom’s loss of life. Our hearts are damaged. We ask that our privateness be revered and that we be allowed to grieve.”
The corporate Lee based, Thomas H. Lee Companions (THL), stated in a press release: “We’re profoundly saddened by the surprising passing of our good good friend and former accomplice, Thomas H. Lee. Tom was an iconic determine in personal fairness.
“He helped pioneer an business and mentored generations of younger professionals who adopted in his footsteps. Extra importantly, he was a beneficiant and gracious particular person who cared deeply about his mates, his household, and his group. Our ideas and prayers are together with his spouse, Ann, and their household.”
Lee was discovered lifeless yesterday (February 23) morning on the listed workplaces of Thomas H. Lee Capital LLC, 767 Fifth Avenue, New York.