23 Oct 2017
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Sony Entertainment chief steps down to serve as chairman of Snapchat

MUMBAI: Sony Pictures Entertainment chairman and CEO Michael Lynton is stepping down from his role to become the chairman of Snap, the company behind Snapchat.

Lynton’s decision comes two years after he guided the company to cruise through an unprecedented email hack.

Lynton, who led both the music and entertainment group, spent 13 years at Sony.

He will now help in the transition as Sony Corp president and CEO Kazuo Hirai gets six months to hunt for a replacement.

In a statement, Lynton said he had been involved with Snapchat since its early days and has now decided to focus on his role as chairman given the company’s recent growth.

Though his reign has been momentous, the 2014 hack led to leakage of proprietary information and emails from top executives revealed internal operations of the company.

More recently, the motion pictures arm released movies such as ‘Ghostbusters’ and ‘Inferno’ which struggled at the box office.