Tommy Mottola Starts Label, Out As Sony CEO

Billboard reports Tommy Mottola has indeed stepped down as chairman/CEO at Sony Music, though he will stay in partnership with Sony on his own label. “I have been thinking about taking up this new challenge for about a year, and really made the decision to go forward only recently,” Mottola said in a statement. “I am thrilled that I will continue my long-standing relationship with Sony to create a company that I believe will become a blueprint for the music business in the coming years.” Sony will name Mottola’s successor within “the next few days.”