You do NOT have to register to read, post, listen or contribute. If you simply wish to remain fully anonymous, you can still contribute.

Enter what you see:
This image contains a scrambled text, it is using a combination of colors, font size, background, angle in order to disallow computer to automate reading. You will have to reproduce it to post on my homepage Tip: Reload page if you have difficulty reading characters
Lost Password?
No account yet? Register
King of Hits
Home arrow Forums
Welcome, Guest
Please Login or Register.    Lost Password?
What The Tipsheet says yesterday, the world hears today!
Go to bottomPost New TopicPost Reply
TOPIC: What The Tipsheet says yesterday, the world hears today!
Man In Hattan

What The Tipsheet says yesterday, the world hears today! 14 Years, 3 Months ago  
Sony BMG Names New CEO to Replace Lack
Saturday February 11
By Matt Moore, AP Business Writer

Sony BMG Music Entertainment Names Rolf Schmidt-Holtz As Its New CEO to Replace Andrew Lack

FRANKFURT, Germany (AP) -- The chief executive and chairman of the board are trading hats in a shake-up at Sony BMG Music Entertainment, the powerhouse record company behind such pop stars as Britney Spears, OutKast and Travis Tritt.

Rolf Schmidt-Holtz, who had been chairman, is replacing CEO Andrew Lack, who becomes chairman of the board. The swap, announced Friday and effective immediately, follows months of criticism of Lack's tenure as CEO, including investor discontent over spiraling fees paid to artists and a scandal over copy protection software in Sony CDs.

The unit was formed after Sony Music Entertainment and BMG, the music unit of Guetersloh, Germany-based Bertelsmann, formally combined their businesses. Sony and Bertelsmann each own half of the company.

Following the change, Schmidt-Holtz will assume overall management responsibility, while Lack "will lead the company's public policy and industry initiatives, and assume operating responsibility and oversight for the theatrical film business of Sony BMG," a joint statement said.

"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," Lack said. "Rolf and I are fortunate to have a roster of extraordinary artists and a top-notch team of creative executives around the world."

The company operates several labels, including Columbia, RCA, Jive and LaFace, and its artist roster features Aerosmith, Jessica Simpson and Alicia Keys, among others.

Schmidt-Holtz was BMG's chief executive from 2001 until the merger in mid-2004 and has been chairman of the merged company's board since then. He will relocate to New York and will take up oversight of Sony BMG's theatrical film business.

Because of the swap, he resigned from Bertelsmann's executive board, the company said.

"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," Sony Chairman and CEO Howard Stringer said.

Bertelsmann CEO Gunter Thielen said Schmidt-Holtz "has impressively proven his flair for the creative and economic aspects of success in the music business."
Logged Logged
  Reply Quote
Which also answers the question posed from Kensington! (nm) 14 Years, 3 Months ago  
Logged Logged
  Reply Quote

Way ahead of the pack! 14 Years, 3 Months ago  
Back on form Tipsheet:P
Logged Logged
  Reply Quote
Go to topPost New TopicPost Reply