In one of the quickest shake ups of a music corporation, Sony Music Entertainment has named a new CEO/chairman of their company since Tommy Mottola stepped down on Thursday January 9th. Andrew Lack, an NBC news president, will be taking over the top post with the company.
Remaining in the New York corporate offices, he will report directly to Howard Stringer who is the CEO of Sony Music America. Although Tommy Mottola says he is stepping away from the company to pursue his own label, insiders have said that the overseas owners were unhappy that the sales of the company had been lower than what they projected.
Howard Stringer released a statement to the media stating, “We are delighted that Andy will join Sony and lead our music company. He is the most rare of senior entertainment executives, equally adept at business, management, strategy and value creation, as well as a consummate and proven developer of content, talent, and ideas. His skills and energy will be of enormous value as we move to transform our music business in this most challenging time for the industry”. Some artists that call Sony home are Nas, Amerie, B2k, Xzhibit, Project Pat and Jennifer Lopez.
