Sony Pictures Entertainment CEO Michael Lynton quits to chair Snapchat

Washington D.C. [USA], Jan. 15 : Chairman and CEO of Sony Pictures Entertainment Michael Lynton is leaving his post to preside over Snap Inc.

The 57-year-old businessman recently announced that he is stepping down from the entertainment conglomerate to focus his attention on his chairmanship of the social media owner of Snapchat in which he has a major investment, Variety reports.

The announcement of the departure said that Sony Corporation CEO Kazuo Hirai will focus with Lynton on the search for a new leader, with the Japanese businessman taking on a much higher profile in the operation.

Among those rumored to be in line for Lynton's post are DreamWorks Animation founder and former CEO Jeffrey Katzenberg, Tribune Media president and CEO Peter Liguori and Jim Gianopulos, recently ousted as chairman and CEO of Fox Filmed Entertainment.

Source: ANI