“Sony Corp. board Chairman Howard Stringer, who became the first non-Japanese executive to lead the company, said he will retire in June,” Cliff Edwards reports for Bloomberg. “Stringer, 71, will step down at the company’s annual shareholder meeting, he said last week in a speech at the Japan Society in New York. Kazuo Hirai, 52, succeeded him as chief executive officer about a year ago.”
Edwards reports, “A surprise choice for CEO in June 2005, the Welsh-born Stringer struggled to bring Sony into a digital age where rivals offered phones and TVs with more features at often lower prices. Samsung Electronics Co.’s efficient manufacturing and the success of Apple Inc.’s iPod and iPad forced him to focus on cutting costs. Sony posted a record 457 billion-yen ($4.8 billion) loss in the 12 months ended March 2012, Stringer’s last year as chief executive of the Tokyo-based company. ‘Considering the poor earnings result last year, he should have stepped down even earlier,’ said Yasuo Nakane, an analyst at Deutsche Bank AG.”
Read more in the full article here.
MacDailyNews Take: As we wrote of Stringer and beleaguered Sony way back in May 2009:
Isn’t a “turnaround plan” supposed to show some signs of, you know, turning something around?
Struggling Sony names Hirai president and CEO, replacing Stringer – February 1, 2012
Sony CEO Stringer under fire as 25 million more accounts hacked – May 3, 2011
No wonder Sony’s beleaguered: CEO Stringer says ‘Apple’s iTunes Store uses proprietary FairPlay DRM’ – May 14, 2009
Sony CEO Stringer calls Apple CEO Steve Jobs ‘greedy’ – July 19, 2007
Sony board votes Howard Stringer company’s first non-Japanese CEO – March 7, 2005