The shake-up is the latest jolt to hit the company since Sony and Bertelsmann formed it in 2004 by merging their worldwide music operations.
The company also said its profits from continuing music operations fell 17 percent, to $142 million, mostly because of late releases of local artists in foreign markets.
The Japanese music operation dominates the Japanese music business.
Seagram's music operation is strong in this country but weak overseas.
Year-ago results are restated for the disposal of the company's recorded music operations.
He replaces Irving Azoff, who has headed the company's music operations since 1988.
Both companies have felt growing pressure to stem the bleeding from their music operations.
The weakness in the content area could be attributed mostly to weakness at the company's music operation.
Prior year net is restated for the disposal of the company's magazines and recorded music operations.
In 1969, when Ross purchased the label's parent company, Warner-Seven Arts, the music operation's revenues were less than $200 million.
