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Warner Music Group Names Executive VP

March 01, 2001

* Helen Murphy has been named executive vice president and chief financial officer of AOL Time Warner's Warner Music Group, making her one of the highest-ranking women in the $40-billion global record business.

Murphy, who was chief financial officer at music giant PolyGram before it was acquired by Seagram Co. in 1998, will oversee Warner's finance, human resources, business development and information technology divisions. As the company's No. 2 executive, she will report to Warner Music Group Chairman Roger Ames.

Since leaving PolyGram, Murphy has been senior vice president and CFO of Westvaco and, most recently, chief financial and administrative officer of Martha Stewart Living Omnimedia Inc.

* Pacific Union Bank Chief Executive and President Kwang Soon Park resigned, the Los Angeles bank said Wednesday, citing personal reasons. His resignation is effective May 15. The bank, which is majority owned by Korea Exchange Bank, said it will begin a search for Park's successor.

Park has served as the bank's CEO since April 1999, and also served as chairman of the board from April 1999 to April 2000.

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