TodayInMusic: Sony Music may have no CEO in a few weeks
Sony Corp still hasn’t confirmed to insiders who will replace outgoing Sony Music CEO Rolf Schmidt Holtz, whose contract ends on March 31st. Stories (including ours) have been doing the rounds for at least 3 months now that Schmidt Holtz will be replaced by current Universal Music Group chairman Doug Morris but, perhaps unsurprisingly, that move is proving complicated.
Sources say Morris has to give a year’s notice, which would take him to Jan 1 2012 at the earliest. The problem is Schmidt Holtz has made clear to his Sony Corp he has no intention of extending his contract as he’s ready to retire, move back home to Hamburg and concentrate on his various investments like TeVeo.
If Sony and Universal can hash out some agreement on Morris’ contract, he may be able to start as early as July 1, insiders said. But that would still mean that the good ship Sony Music might be without a captain for three months, not a great thing in an industry where uncertainty reigns.
One option for Sony might be to put Sony USA CFO Rob Wiesenthal in charge temporarily until Morris can come on board.
(Photo: Reuters, picture of Sony Music artist Beyonce)