Rolf Schmidt-Holtz takes partner role with TeVeo
Potentially clearing the way for installation of a new CEO at Sony Music Entertainment, the music firm’s topper Rolf Schmidt-Holtz is taking a role as a partner in a German entertainment tech startup.Schmidt-Holtz, whose SME contract will expire in March, is joining Hamburg-based TeVeo, according to German press reports. It had been assumed that Schmidt-Holtz would ankle when his contract ends. Schmidt-Holtz is a holdover from a previous SME exec regime: After Sony merged its music unit with Bertelsmann Music Group in 2003, he assumed the roles of chairman and then CEO. He stayed on as CEO of SME after Sony bought out Bertelmann’s stake in the partnership in 2008. An SME corporate spokesman made no comment.