Sony's board chairman and ex-CEO Stringer to retire - FT

TOKYO Sat Mar 9, 2013 12:20pm IST

Howard Stringer addresses a news conference at the IFA consumer electronics fair in Berlin in this August 31, 2011 file photo. REUTERS/Tobias Schwarz/Files

Howard Stringer addresses a news conference at the IFA consumer electronics fair in Berlin in this August 31, 2011 file photo.

Credit: Reuters/Tobias Schwarz/Files

Related Topics

Stocks

   

TOKYO (Reuters) - Sony Corp's (6758.T) board chairman Howard Stringer, who headed the company as chief executive for six years until last April, will retire from Japan's struggling consumer electronics giant in June, the Financial Times reported.

The departure of Stringer, who last year handed the top post to Kazuo Hirai, would officially mark an end to a period in which Sony, under Stringer, struggled to revive its creative edge and ceded ground to rivals such as Apple Inc (AAPL.O) and Samsung Electronics (005930.KS).

Stringer, once a rare foreign CEO at a top Japanese company, said his retirement would let him pursue "new opportunities", the Financial Times quoted him as telling a Japan Society lecture in New York on Friday.

He will step down at a shareholders' meeting in June, the paper said.

Sony could not be reached for comment immediately.

Stringer, a Welshman and a former journalist who later ran U.S. broadcaster CBS, became Sony's CEO in 2005. He is known for cost cuts and restructuring but the company was unable to make game-changer products while he was at helm.

The current CEO Hirai is doubling down on consumer electronics with a focus on mobile phones, tablets and gaming, while shedding non-core assets in a bid to revive Sony criticised as having lost its creative edge.

(Reporting by Yoko Kubota; Editing by Michael Perry)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Earnings Season

Earnings Season

Reliance Q4 sales rise, refining margin narrows.  Read 

Innovative Solution

Innovative Solution

Turning smog into jewels - a Dutch designer's solution to Beijing's pollution.  Video 

Insider Trading

Insider Trading

Rajaratnam's brother loses bid to dismiss insider trading charges.  Full Article 

Literary Giant Dies

Literary Giant Dies

Mourning and memories in Gabriel Garcia Marquez's languid hometown.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage