Sony Entertainment CEO steps down to be Snapchat chairman

The CEO of Sony Entertainment Michael Lynton is stepping down from his position to become the chairman of Snap Inc. Lynton has been an advisor to Snap's CEO Evan Spiegal, and has been officially as the company's chairman, according to The New York Times. "As some of you are already aware, I have been involved with Snapchat since its early days. Given Snapchat’s growth – and my growing role and responsibilities in it – I recently determined that the time was right to make a change," Lynton said in a note to Snap. Lynton will remain with Sony for the next six months as he transitions to join Snap.