Schmidt-Holtz Signs Three-Year Sony Music Deal
November 13, 2008
By Andre Paine, London
As it prepares to be officially re-named Sony Music Entertainment in early 2009, Billboard.biz has learned that the major has signed up Rolf Schmidt-Holtz to continue as CEO on a new three-year contract.
"Rolf's strong leadership, and his commitment to an open and collaborative work ethic, has been integral to the transformation of our music business," said Sony Corp. chairman/CEO Howard Stringer in an email to staff. "He has unified the music company and enabled it to more fully embrace the digital future."
The major was unable to comment on the contract renewal.
Stringer praised Schmidt-Holtz's contribution to the company publicly at the German's 60th birthday in Berlin in August.
New York-based Schmidt-Holtz was chairman of Sony BMG from August 2004 and was appointed CEO in February 2006.
From 2001, he headed the Bertelsmann Music Group (BMG) as chairman and CEO and led the company into the merger with Sony. He was also a Bertelsmann AG executive board member and headed the BMG division, which became the joint venture share in Sony BMG Music Entertainment. He was previously a high-profile journalist, television executive, newspaper publisher and magazine editor in Germany.
Sony Corp. completed the acquisition of Bertelsmann's 50% stake in Sony BMG, valued at $900 million, on Oct. 1.
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