Big, big news out of 550 Madison yesterday as Dony Ienner and Michelle Anthony both resigned their top executive posts at the Sony Music Label Group. (As with most cases in corporate America, the word resigned is used instead of the more accurate phrase forced out.) Ienner was chairman of the label group, Anthony was president. Rob Stringer, chairman and chief executive of Sony BMG's British unit and brother of Howard Stringer, Sony's chairman, will take over as head of the Sony label group.

For a good recap, read the NY Times article by Jeff Leeds or Chris Morris's article at the Hollywood Reporter.

For a good thread on the subject with plenty of anonymous candor, read this thread at The Velvet Rope.

Hits pointed to three factors that lead to the duo's dismissal: a tepic year of new release sales until last week's Dixie Chicks' album; executive turmoil since the Sony BMG merger; and a move by Sony BMG head Rolf Schmidt-Holtz to bring the Sony and BMG cultures together by moving in Rob Stringer.

The full email from Rolf Schmidt-Holtz to employees after the jump.

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