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Sony said on Friday it had appointed Nicole
Seligman, the current head of its U.S. operations, to the newly
created role which reports to Sony Entertainment Chief Executive
Michael Lynton. She will step down as executive vice president
and general counsel, although she will continue to advise on
legal issues. Her appointment will be voted on at a board
meeting on June 19.
Seligman's appointment follows a shake-up at Sony's Tokyo
headquarters which included the appointment of Kenichiro Yoshida
as chief strategic and financial officer, and who has been
lauded by investors for spearheading a restructuring drive.
Sony also came under pressure last year from shareholder Daniel
Loeb, chief executive of U.S.-based hedge fund Third Point, to
partially spin off its entertainment business because it lacked
transparency and was performing below its potential.
Sony Chief Executive Kazuo Hirai rebuffed the proposal, saying
it was important for the company to retain full ownership, but
has improved disclosure at the unit.
Hirai said at a recent corporate strategy briefing that
strengthening the entertainment and financial businesses were
among Sony's priorities. Both units are reliable sources of
profit for the company which has been weighed down by losses
from its flagship electronics division.
(This story corrects second paragraph to note Seligman will step
down, not remain, as executive vice president)
(Reporting by Sophie Knight; Editing by Edmund Klamann and Miral
Fahmy)
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