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Sony Entertainment CEO Michael Lynton is now Snapchat's chairman

15 January, 2017, 00:48 | Author: Abraham Jackson
  • Michael Lynton

Lynton will focus on his chairmanship of Snap, the parent of augmented reality and messaging app Snapchat, as it heads for a public offering, the Journal reported.

Sony Chief Executive Kazuo Hirai will take on a larger role at the entertainment division, adding the position of co-CEO and chairman of the unit, the company said.

Lynton will officially remain in his role until February 2 and will work with Sony CEO Kazuo Hirai to find a replacement, "in particular for the leadership of Sony Pictures Entertainment", Sony announced.

Hirai office will have his office in Culver City, California, to oversee operations.

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Sony announced Friday that Sony Entertainment CEO Michael Lynton will step down. In April past year, he was appointed CEO of Sony Corporation in charge of Pictures and Music businesses. Following threats of violence, the studio to shelve its opening. The movie was eventually released by Sony online. Lynton said in his memo. According to a release from Sony, Lynton will step down this month to ensure a smooth transition for his successor.

However, the studio has seen its share of weak box-office returns and has undergone an executive shakeup in recent years. Sony has struggled to turn around its movie business, and now reaps most of its profit from television. Facebook brought in former Google exec Sheryl Sandberg as its chief operating officer; Google brought in Sun Microsystems exec and Novell CEO Eric Schmidt to be CEO; and Apple brought in Pepsi CEO John Sculley to run the company (if only for a few years).

"Sony as a company has been troubled during the last couple of years", Jeffrey Cole, director of the Center for the Digital Future at USC Annenberg School for Communication and Journalism, told the LA Times.

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