Sony Corp. executive Nicole Seligman has been given an expanded role at the company, taking on the new position of president of Sony Entertainment.
Seligman will oversee the finance, human resources, legal and corporate communications functions of Sony's entertainment businesses, which include Sony Pictures Entertainment, Sony Music Entertainment and Sony/ATV Music Publishing, the company said Friday.
Her elevation comes during a period of belt-tightening for film and television studio Sony Pictures, which has been cutting jobs after vowing late last year to significantly cut costs.
Seligman will assume her new responsibilities June 19 and retain her current position as president of Sony Corp. of America. In that capacity, Seligman will continue to report to Sony Chief Executive Kazuo Hirai.
In her entertainment role, Seligman will report to Sony Entertainment CEO Michael Lynton and work with him to "develop overall strategy and growth opportunities, identify and implement efficiencies within and among the three Sony Entertainment companies, and expand the businesses' combined global footprint and influence," Sony said in a statement.
Culver City-based Sony Pictures, which is headed by Co-Chairmen Lynton and Amy Pascal, is in the midst of trimming at least $350 million in overhead as part of a cost-cutting initiative announced in November at an investors conference.
The studio has been laying off employees, including 216 who were let go in March.
The Times also reported Friday that Sony Pictures Imageworks, a unit of the studio, is moving its Los Angeles-area headquarters to Vancouver, Canada. The relocation allows Sony Pictures to trim costs by taking advantage of generous tax breaks that are not available in California.
“I look forward to continuing to work closely with Michael as we harness the exceptional talent of our people and encourage the development of new synergy points to catalyze innovation throughout the company,” Seligman said in a statement.
Sony Pictures was a bright spot for Tokyo-based Sony Corp. in its fiscal fourth-quarter earnings report, released earlier this month.
Although Sony reported a $1.3-billion loss, Sony Pictures posted a profit of $402 million, up 112% from a year earlier. Revenue increased 30% to $2.6 billion.
Seligman has been president of Sony Corp. of America since June 2012 and oversees the operations of the company's U.S. headquarters. She joined the company in 2001 as executive vice president and general counsel.
“I sought out Nicole for this role and am thrilled to work with her to explore new ways to leverage Sony Entertainment's business and creative assets into new opportunities for profitability and growth," Lynton said in a statement.
Seligman has also been named senior legal counsel of Sony Group. She was previously general counsel of Sony.Copyright © 2014, Los Angeles Times