Sony Entertainment CEO Michael Lynton To Become Snapchat's Chairman

(RTTNews) - Japanese consumer electronics maker Sony Corp. (SON.L, SNE) announced that Michael Lynton will step down as Corporate Executive Officer of Sony Corp. and CEO of Sony Entertainment in charge of its Pictures and Music businesses effective as of February 2. He plans to join Snap Inc. as Chairman of the Board.

For the next six months, Lynton will stay on as Co-CEO of Sony Entertainment, overseeing the Pictures and Music businesses, and as CEO of Sony Pictures Entertainment and Sony Corp. of America.

Sony's President and CEO Kazuo Hirai will take on the additional title of Chairman and Co-CEO of Sony Entertainment. Hirai will also have a second office in California to oversee the management of the entertainment companies.

Lynton steps down after 13 years with Sony. He began in 2004 as Chairman and CEO of Sony Pictures Entertainment, and in 2012 was named CEO of Sony Entertainment.

In April 2016, he was appointed as Corporate Executive Officer of Sony Corp. in charge of the Pictures and Music businesses.

Lynton said, "I have been involved with Evan and Snapchat since its early days, and given its growth since then, decided the time was right to transition and focus on my role as Chairman of the Board of Snap Inc. I leave Sony with great pride in all we have accomplished together, and confidence that the broad changes we have made and new management team we have assembled over the last few years will strengthen the company overall."