Dec 18 David Bishop, the president of home
entertainment at Sony Corp's Sony Pictures, will leave
the company in March, the latest departure as the studio revamps
its operations after criticism from hedge fund investor Daniel
"We appreciate his many contributions to the company and
wish him well with his future endeavors," Sony Entertainment CEO
Michael Lynton said in a statement on Wednesday.
Sony is battling to win investor support after Loeb in May
called on the company to spin off to investors a portion of its
entertainment business and take steps to improve the studio's
profitability. Sony rejected Loeb's spinoff proposal in August.
In November, Lynton said Sony had identified $250 million in
overhead and procurement cost cuts that it expects to make in
the next two or three years. It also will produce fewer films in
a shift toward higher-margin television production.
Bishop's exit follows the departure this year of the
studio's marketing chief, Marc Weinstock, and public relations
veteran Steve Elzer.
"I am extremely proud of the organization and all we have
accomplished in an exciting evolving marketplace," Bishop said
in a statement.