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Sony Pictures undergoes major studio shakeup

Sony Pictures Entertainment let go of three president-level executives as it seeks to revamp the company's top-heavy management structure, The Hollywood Reporter reported, citing a companywide memo distributed Feb. 6.

The executives leaving the company are Sony Pictures Television President for Worldwide Networks Andy Kaplan, President and Chief Marketing Officer for Sony Pictures Television Sheraton Kalouria, and President of Sony Pictures Home Entertainment Inc. Man Jit Singh.

As a result, Keith Le Goy, currently Sony Pictures Television's president of distribution, will expand his role to include home entertainment. Worldwide Networks business will now be reporting directly to Mike Hopkins, the company's Sony Pictures Television chairman. As for those under the Sony Pictures Television marketing group, each team will now report directly the the business units that they support.

"Our decision to rethink the way we operate these units was driven by our goals to streamline [Sony Pictures Entertainment]'s business operations, making them nimbler and better aligned with a rapidly-evolving industry," Sony Pictures Entertainment Chairman and CEO Tony Vinciquerra said in the memo.

Meanwhile, Sony Pictures Entertainment parent company Sony Corp. also made several executive changes, which will take effect April 1.

The Japanese media conglomerate recently promoted CFO and Executive Deputy President Kenichiro Yoshida to CEO and president effective April 1, replacing Kazuo Hirai, who will become chairman on the same date.

Sony Corp.'s newly announced leadership transition is a prelude to more changes at the company, which sees "urgency" in enhancing its competitiveness on a global scale, executives said during a Feb. 2 earnings call after raising guidance for fiscal year 2018.

Yoshida intends to provide more details on Sony's future direction at the company's next corporate strategy meeting, to be held shortly after the announcement of fiscal year 2018 earnings scheduled for late April.