Word: schulhofer
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...Tokyo was concerned, Sony America president Michael P. Schulhof had come to personify a chaos and excess that threatened to drag the company down. A protege of Morita's and Ohga's, Schulhof was a 20-year Sony veteran, a physicist who in his early years as Sony America chief had been competent enough in overseeing its lucrative electronics and music businesses. The company's disastrous foray into Hollywood, however, "changed Mickey," as one Tokyo-based Sony director puts it. Schulhof's lavish spending to remodel Sony's Madison Avenue headquarters had already drawn grumbles in Tokyo. The studio...
...Schulhof question was one of a range of issues on which Sony chairman Ohga differed with his new president. Ohga had a soft spot for Schulhof, who was considered "family." In spite of that, he could not protect him. Idei told a friend he thought it would take him 18 months to get rid of Schulhof. It took half that time. Schulhof was gone by December...
Biondi is the latest of several mega-media executives who have recently been toppled, with little or no warning, from major posts. Jeffrey Katzenberg, longtime chairman of Walt Disney Studios, left in 1994 after a falling-out with corporate chairman Michael Eisner. Michael Schulhof, head of Sony Corp.'s U.S. operations, was ousted last month after clashing with his Japanese bosses. Michael Fuchs, the longtime head of HBO and (for six months) chairman of the Warner Music Group, was fired in November by Time Warner chairman Gerald Levin...
...shake-up inspired talk that Sony (1994-95 sales: $44.8 billion) might now follow the lead of fellow Japanese giant Matsushita, which sold control of MCA and its Universal Studios to Seagram last April for $5.7 billion. "The real significance of Schulhof's ouster is that it is the last nail in the coffin of synergy between hardware and software," says analyst Porter Bibb, who follows the entertainment industry for the firm Ladenburg, Thalmann. "You can count the days until the movie business is sold...
Whether Idei wins his hardware bet remains to be seen, of course. But Sony continues the lavish spending on software that Schulhof charted. Last week Variety reported that TriStar agreed to pay Tom Cruise $20 million up front to star in the comedy Jerry Maguire. It was the third $20 million payday that Sony has recently served up to top Hollywood talent...