Sony Corp. made it official Thursday: Michael Lynton has formally been named CEO of Sony Corp. of America and Nicole Seligman will become president.
The promotions will become effective June 27.
Lynton will remain chairman and CEO of Sony Pictures Entertainment. Amy Pascal will remain co-chairman of the studio, which they will continue running together.
No management changes are planned at SPE, the company said. Lynton will continue to be based at the studio's world headquarters in Culver City and will travel to New York. Seligman will continue to work in New York and Tokyo.
Sony Corp. of America, based in New York, is the U.S. subsidiary of Tokyo-based Sony Corp.
Lynton will oversee Sony's entertainment businesses, including Sony Music Entertainment, Sony/ATV Music Publishing and Sony Pictures Entertainment. Seligman will be in charge of Sony's U.S. headquarters operations.
The announcement was made by Sony Corp. chairman Howard Stringer and Kazuo Hirai, who will take over Stringer's CEO role in April. Stringer also has been chairman and CEO of SCA since 1998. As of June 27, the position of SCA chairman will be taken over by Hirai.
"I am grateful to Sir Howard and Kaz for this opportunity to work with Nicole, Doug, Marty and Amy in leading Sony's entertainment businesses," Lynton said. "While the studio and the music companies are doing well, this remains an era of great change and challenge. So I know we will work more closely than ever with Sony's electronics and network businesses to bring the best possible entertainment experiences to people everywhere."
Said Stringer: "Michael Lynton is an incredibly accomplished executive who has distinguished himself in at least three different fields - entertainment, technology and publishing. Michael and Amy helped put Sony Pictures on the path of stability and profits and they continue to be one of the most successful partnerships in entertainment."
Hirai added: "I have known both Michael and Nicole for many years, and they will do an excellent job at Sony Corporation of America. They will be key members of my management team as we build on the progress made under the leadership of Sir Howard and fulfill Sony's destiny as the company best able to make and deliver the kind of entertainment, products and services people want."
Martin Bandier Signs Long-Term Contract To Remain Chairman/CEO of Sony/ATV
Reporting to Lynton in his capacity as SCA CEO will be SME CEO Doug Morris, Sony/ATV chairman and CEO Martin Bandier and Pascal.It