Warner Music Group

, a division of

AOL Time Warner

(AOL)

, said Russ Thyret, the chairman and chief executive of

Warner Bros. Records

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, has left the company.

Phil Quartararo, the president of Warner Bros. Records, will be responsible for the company's daily operations.

Thyret has been chairman and CEO since August 1995. He joined Warner Records in 1971. Thyret's future plans weren't provided, and no reason was offered for his resignation.

AOL Time Warner ended

New York Stock Exchange

trading down 67 cents, or 1.5%, to $44.03.