Head of Sony Entertainment, Michael Lynton, To Step Down

Sony Entertainment CEO Michael Lynton has told his employees that he is stepping down from the company. He will however be staying with the company for six months to help in the transition. Lynton's note to the staff reads: Dear Colleagues, Today I will be announcing my resignation from Sony to focus on my position as Chairman of the Board of Snap Inc. This was not an easy decision for me, and one that I arrived at after long and careful consideration. Sony Corp will be issuing an internal note from Kaz to all Sony global employees as well as a press release describing the details and timing of my transition, which I have included below. As some of you are already aware, I have been involved with Snapchat since its early days. Given Snapchat's growth -- and my growing role and responsibilities in it -- I recently determined that the time was right to make a change. I leave Sony with great pride in all we have accomplished together -- from our greatest victories to overcoming our biggest challenges. Together we: Produced terrific films such as American Hustle, Captain Phillips, The Social Network, Spider-man, Skyfall and Spectre; and hit TV shows like Breaking Bad, The Blacklist, The Goldbergs, The Crown and Kevin Can Wait; Grew our worldwide networks business to 178 countries, including India with our ownership of the IPL cricket rights the Ten Sports Network; Completed the Lot's most significant capital improvement projects in decades including the Jack and Harry Cohn buildings, Calley Park and the beautiful new 8-story Akio Morita building, which brought Sony Music and Sony/ATV Music Publishing employees onto the Lot for the first time; Completed the $750 million acquisition of the Michael Jackson Estate's stake in Sony/ATV, making us 100% owners; And triumphed over the most devastating and disruptive cyber-attack in corporate history, keeping studio operations running and not missing a single day of production.

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