Rolf Schmidt-Holtz Replaces Lack As Sony BMG CEO
February 10, 2006 at 7:06 AM (PT)
As first reported on ALL ACCESS (NET NEWS 2/8) BERTELSMANN Chairman & CEO GUNTER THIELEN has announced that SONY BMG MUSIC ENTERTAINMENT non-Exec. Chairman ROLF SCHMIDT-HOLTZ, a member of the BERTELSMANN AG Executive Board and Chief Creative Officer, today has been named as CEO for SONY BMG MUSIC ENTERTAINMENT. He succeeds ANDREW LACK who now takes ROLF SCHMIDT-HOLTZ's post as non-Exec. Chairman. SCHMIDT-HOLTZ will have overall management responsibility for the company, based in NEW YORK.
LACK, as Chairman Of The Board, will lead the company’s public policy and industry initiatives, and assume operating responsibility and oversight for the theatrical film business of SONY BMG, based in NEW YORK. The senior management team will also include CFO KEVIN KELLEHER, and a COO to be appointed shortly.
SONY Chairman & CEO SIR HOWARD STRINGER said, "We are very fortunate to have executives of this high caliber at SONY BMG. Together Andy and Rolf worked tirelessly to bring about the merger and begin the integration of our global operations. Thanks to that effort SONY BMG is well-positioned to deal with the complex issues and rapid changes facing the music industry, and it continues to maintain strong market position as well as a particularly strong performance in this past quarter in comparison with the industry overall. With this management change ROLF and ANDY are now aligned in positions that will take advantage of the significant progress the company has already made, as well as their formidable business skills and respective management experiences."
THEILEN, in a company-wide memo, said, "SONY BMG is gaining a media executive who is as experienced as he is successful. ROLF has impressively proven his flair for both the creative and economic aspects of success in the music business -- and under the most difficult of market conditions -- at the helm of the BERTELSMANN MUSIC GROUP. His counsel, creative contribution, and entrepreneurial expertise have been invaluable to all of us on the BERTELSMANN Executive Board."
SCHMIDT-HOLTZ commented, "I am honored to be asked to lead SONY BMG and to take us forward as a leader in music and entertainment. I know a deep commitment to our artists and our shareholders is shared by our employees worldwide, and by working together we will continue to grow SONY BMG as a creative powerhouse."
LACK remarked, "I am extremely pleased to take on this new leadership role with the company and to continue to help SONY BMG accelerate its tremendous growth and performance. ROLF and I are fortunate to have a roster of extraordinary artists and a top notch team of creative executives around the world. Now, with the integration behind us, SONY BMG is poised to achieve outstanding success."