“Sony Corp. Chairman and CEO Howard Stringer may only have two more quarters to weather at the helm of the Japanese electronics giant before passing the mantle to his successor,” Claire Atkinson reports for The New York Post.
“Sources familiar with the situation said they expect Stringer — who took the reins in March 2005 — to step down as chief executive at the end of its fiscal year in March,” Atkinson reports. “If he opts to relinquish the CEO title next spring, Stringer will likely stay on as chairman, sources said.”
Atkinson reports, “The 69-year-old Stringer has suffered a string of setbacks in the past year… The company has also struggled with stiff competition from more nimble rivals like Apple and Samsung.”
Read more in the full article here.
MacDailyNews Take: The turnaround that wasn’t.
Can’t wait to see the huge payoff.
I have no problem when these people being handsomely compensated for succeeding. But when they fail…
Bubbles …
But when they fail… it gets even better. They want to secure a smooth “passage” … they call it a “golden parachute”.
Shameful but true: Accountability not even in the picture.
Surprised it took this long.
You thought a white guy would make a good CEO for Sony, eh? How’d that work out?
A Steve Ballmer in Howard Stringer clothing.
Companies these days don’t have the luxury to let a CEO work something out over 5-10 years or they may cease to exist things move so fast and disruptive technologies mean they have to think fast on their feet.. Sony is in real trouble as all of their key markets are starting to vanish with the exception of a the professional broadcast industry. Even there things are going tapeless. I used to own a lot of Sony consumer & semi-pro stuff but I haven’t bought anything from Sony now in many years.
Remember that a lot of Sony’s product isn’t in electronics. Maybe you haven’t bought a TV or a stereo from them in a while, but you will have watched a Sony film or TV programme or listened to a Sony album. They realised early on that large sections of the electronics market were becoming commoditised, hence the investment in content creation back in the 1990s.
As Steve Jobs would say “bozo”
Despite the setbacks from the Earthquake and the recent security issues Howard Stringer has actually been very good for Sony. Before he arrived it was a completely disordered jumble of companies. It does now at least have an organisational heirarchy. Several Sony divisions are now in profit even if the group as a whole is running at a loss. That’s major progress, meaning his successor if he does decide to go at least has a chance to put the whole thing back into profit.
“Before he arrived it was a completely disordered jumble of companies. It does now at least have an organisational hierarchy.”
I watched exactly that happen at Eastman Kodak while I was there. They brought in their latest savior CEO, the organization improved, the stock price went up to $55 a share. And then…
Kodak stock is selling today at $1.16 today. (I sold off all my shares at $55. Consider me insightful).
I think his downfall was the security issue with the PSN as it was handled poorly and Stringer took a NOT A PROBLEM stance and it really made Sony look bad and I when you mess with a company’s issue that is a problem.
Sony was able to bounce back but they need a strong person at the helm who will actually take charge and do something not be so wishy washy about things like Stringer is!
He I know let’s make Kevin Butler the CEO he would do a kick ass job!!
“Stringer will likely stay on as chairman, sources said.”
Just leave Stringer. Haven’t you and your crap administrators done enough damage to Sony? The company needs a revolution to regain its entrepreneurial spirit and abilities. That means: Get the hell out of the way.
Howard Stringer has not complied in forging forward with SONY’s “moral, corporate policies”. Please go to Reverbnation profile Dean Hajas to compare “Take Me Higher” and that of “Slave for You” B. Spears/ Dave Aude Remix. The biggest issue for Claire Atkinson would be to clean house of all the inappropriate decisions of Howard Stringer created. Projections for SONY BMG ZOMBA seem grim at best, trading at half the market value just 50 weeks ago in the winter of 2011. Gary Wade Leak, Roger Skeleton, Bruce Scavuzzo, Robert John “Mutt” Lange, Matt Haywood, Henry Hadaway of HHO Publishing, Dave Aude and Britney Spears, Infringed Mr. Dean Hajas Property created in March of 2000. These individuals are very aware of this theft, and will be held to the fullest extent of the Law. Over $100,000,000.00 is owed to Mr. Dean Hajas as a result of this infringement. No other strategy will ever work for a company that has such Karma wrapped around it’s very structure. Full compensation, with public apology is the only way to turn your sinking Titanic around. PERIOD!
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