SPE has managed to generate more than $1 billion in domestic box office for each of the past ten years. And worldwide in 2011, thanks to a slate including "The Smurfs," "Bad Teacher," "Moneyball" and Sony Pictures Classics' "Midnight in Paris," the studio grossed more than $3 billion. The studio has long relied on established franchises such as "Spider-Man," which launches a new iteration this summer, along with "Men in Black."
After working at AOL, the Penguin Group and Disney, Lynton joined Sony as studio chairman in 2004, after John Calley stepped down.
OFFICIAL SONY RELEASE:
Michael Lynton named CEO of Sony Corporation of America;
Nicole Seligman to become SCA President
March 29, 2012 - New York, NY - Michael Lynton has been named CEO of Sony Corporation of America (SCA) and Nicole Seligman will become SCA President, it was announced today by Sir Howard Stringer, Chairman, CEO and President of Sony Corporation and Kazuo Hirai, Executive Deputy President.
Mr. Lynton will be overseeing Sony’s entertainment businesses, including Sony Music Entertainment (SME), Sony/ATV Music Publishing and Sony Pictures Entertainment (SPE). Ms. Seligman will have responsibility for Sony’s U.S. headquarters operations.
Mr. Lynton will remain Chairman and CEO of SPE, and Amy Pascal will remain as Co-Chairman; they will continue running the studio together. Ms. Seligman will remain as Executive Vice President and General Counsel of Sony Corporation.
The promotions announced today, which will become effective June 27th, are part of a series of management changes being implemented in conjunction with the transition of leadership at Sony. On April 1st, Mr. Hirai will become CEO and President of Sony Corporation. Mr. Stringer continues as Chairman until June 27th, when he is expected to become Chairman of the Sony Board of Directors. Mr. Stringer has also been Chairman and CEO of SCA since 1998. As of June 27th, the position of SCA Chairman of the Board will be assumed by Mr. Hirai.