Mottola Signs on for 5 More Years With Sony

Thomas D. Mottola has been given the green light to usher Sony Music Entertainment into the 21st century. Mottola signed a five-year, multimillion-dollar contract this week with Sony Inc. to continue running the Japanese entertainment conglomerate’s most profitable division.

The move, which comes just four months after Sony President Nobuyuki Idei ousted Mottola’s former boss Michael P. Schulhof, sends a signal to competitors that the Japanese conglomerate is pleased with Mottola’s performance. Sony Music currently ranks second in U.S. market share. It dominates the nation’s pop chart this week with five albums in the top 10.

Mottola, a former artists manager who joined Sony Music in 1988, will retain his current title of president and chief operating officer, which he has held since 1993.

Sony’s vote of confidence for Mottola extends to his entire executive team, each of whom signed new five-year deals this week. They are: Sony Executive Vice President Michele Anthony, Sony Music International Chairman Mel Ilberman, Epic Records Chairman Dave Glew and Columbia Records Chairman Don Ienner.