Company Town : Atlantic Group President Will Become Co-Chair

Val Azzoli is about to be named co-chairman and co-chief executive of Time Warner’s Atlantic Group, which releases music by such hit artists as Hootie & the Blowfish and Stone Temple Pilots.

Azzoli’s promotion from president to co-chairman is the first move made by Warner Music Group chiefs Bob Daly and Terry Semel since they were brought in to restore order at the nation’s biggest record conglomerate.

Azzoli, 41, worked in music publishing and artist management for 13 years before joining Atlantic Records in 1990 as a special assistant to his mentor, Doug Morris, who was one of seven top Warner executives ousted last year in a corporate blood bath.

Azzoli was regarded as the architect of Atlantic’s marketing machine, which has spit out surprise hits. Thanks to the 7-million-selling success of Hootie’s “Cracked Rear View” album, Atlantic ended last year at No. 1.

Azzoli has been dogged by questions about whether he can sign and develop fresh talent. But reports that Elektra President Seymour Stein might be brought in to help bolster his talent-acquisition team are untrue, sources said.

Ahmet Ertegun will share the co-chairman and co-CEO title at Atlantic with Azzoli.

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