Sony Elevates Michael Lynton, Three Others to ‘Corporate Executive Officer’ Roles
Sony Elevates Michael Lynton, OthersSony Corp. said Friday it would elevate four top executives, including Sony Entertainment and Sony Corp. of America CEO Michael Lynton, to "corporate executive…
Sony Corp. said Friday it would elevate four top executives, including Sony Entertainment and Sony Corp. of America CEO Michael Lynton, to “corporate executive officer” roles with executive vp titles that they get in addition to their other roles.
“They, together with the six existing corporate executive officers, will assume ultimate responsibility for the Sony Group’s management within the scope assigned to them by the company’s board of directors,” the Japanese entertainment and consumer electronics conglomerate said.
Lynton will now be the “officer in charge of pictures and music businesses.”
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Sony is also re-classifying its other executives, including Andrew House, who will become corporate executive officer in charge of game & network services, the PlayStation business.
“The executives responsible for executing their assigned business operations under the oversight of the relevant corporate executive officers will be named ‘business executives’ of Sony Corporation, while the executives responsible for the headquarters functions assigned to them under the oversight of relevant corporate executive officers will be named ‘corporate executives’ of Sony Corporation,” the company said.
Doug Morris, CEO of Sony Music Entertainment, and Martin Bandier, chairman & CEO, Sony / ATV Music Publishing, are listed among the “business executives.”
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The new structure is effective April 1.
The organizational change is part of Sony’s efforts to raise profitability at its various divisions, speed up decision-making and make individual executives more responsible for the operations they oversee.
Sony also said it plans to split out its semiconductor business and establish it “as a wholly owned subsidiary in April.” Plus, it is exploring the split-out of its imaging products and solutions sector, according to the company.
Sony will announce its full-year results on April 28 in Tokyo.
This article was originally published by The Hollywood Reporter.