• Reuters

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Sony Entertainment Chief Executive Michael Lynton will step down to become chairman of the board of Snap Inc., a move that puts an experienced Hollywood executive in a prominent role as the technology company prepares for an initial public offering.

Lynton will give up his current position at Sony’s movie and television unit on Feb. 2 but remain as co-CEO for six months to help find a successor, Sony Corp. said in a statement on Friday.

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