Lyor Cohen is a business force in the music industry and before today, he was noted as the CEO and co-founder of 300 Entertainment - the label supporting Young Thug. But now, it has been announced that Lyor is climbing the totem pole, as he's been named the new Global Head of Music at Youtube.

"I hope that together we can move towards a more collaborative relationship between the music industry and the technologies that are shaping the future of the business," Cohen wrote in a new memo sent to YouTube's music staff.

YouTube's chief business officer Robert Kyncl also shared his thoughts on the transition: "Lyor is a lion of the music industry ... From Rush to Def Jam to Island Def Jam to WMG then 300, he has consistently been a pioneer, charting the course for where music is heading. As we enter the growth era of the music industry, Lyor is in a position to make tremendous difference in accelerating that growth in a fair way for everyone. We are thrilled to welcome him to YouTube."