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

Diplomacy

REUTERS SHOWCASE

Maruti Results

Maruti Results

Maruti Suzuki says profits helped by sentiment, not growth.  Full Article 

Tracking the Monsoon

Tracking the Monsoon

Monsoon turns patchy after revival.  Full Article 

ICICI Profit Up

ICICI Profit Up

ICICI Bank Q1 net profit up 17 percent, beats estimates.  Full Article 

Pharma Sector

Pharma Sector

FDA raises concern over drug production process at Cadila  Full Article 

Coal India

Coal India

Some Coal India mines may be run by foreign firms - minister  Full Article 

Fuel Prices

Fuel Prices

IOC to cut petrol prices by 1.5 pct from Friday  Read 

Economic Pulse

Economic Pulse

India's infrastructure output growth hits 9-month high in June  Full Article | Related Story 

Joint Bid

Joint Bid

ONGC, Oil India bid $1.5 bln for stake in Murphy Oil's Malaysia assets - sources  Full Article 

Reuters India Mobile

Reuters India Mobile

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