Mike Wald, Sony Pictures Television’s co-president of distribution and networks, is set to retire after 32 years at the studio.
Wald will step away from his post at the end of the year, Sony Pictures Television chairman Keith Le Goy announced Thursday in a memo to staff. In his place, Jason Spivak and Paul Littmann are slated to jointly lead the distribution and networks division as presidents, reporting directly to Le Goy.
“It is with mixed emotions that I announce his decision,” Le Goy said in his memo, noting that Wald’s departure comes just weeks after the news that Flory Bramnick would be leaving after 24 years with the company.
“I have had the distinct privilege of working closely with Mike and Flory for many years, and it is hard to overstate the impact they have had on our business and the people around them,” Le Goy said.
Over the course of his three decades at the studio, Wald has been a key player in expanding Sony Pictures’ worldwide distribution business, overseeing the licensing of the company’s film and television content across global markets, platforms and emerging distribution models.
Following Wald’s exit at the end of the year, Spivak and Littmann will be named as presidents of distribution and networks. They will jointly lead the division and will be focused on maximizing the value and reach of Sony Pictures’ content.
Spivak was previously the co-president of distribution and networks, while Littmann served as EVP of global distribution for Sony Pictures Television.
As part of the shift, Mark Young will take over the role as EVP and head of international, expanding his purview to include Latin American and the Asia-Pacific region. Monica Veiga will oversee North America as EVP of distribution, following Bramnick departure.
“We have strong momentum across the business, including in areas with significant potential for continued growth such as YouTube, FAST, digital platforms and other performance-based models,” Le Goy said. “Our independence gives us a unique advantage in pursuing these opportunities, with the flexibility to move quickly, work across virtually every major platform and market, and continually find new ways to maximize the value and reach of our content.”
