Arab Today, arab today former sony ceo stringer to retire
Last Updated : GMT 06:58:51
Arab Today, arab today
Arab Today, arab today

Former Sony CEO Stringer to retire

Arab Today, arab today

Arab Today, arab today Former Sony CEO Stringer to retire

Tokyo - AFP

Howard Stringer, the first foreigner to lead Japanese electronics giant Sony during some of its most challenging times, has announced he will retire from the struggling firm. The Welsh-born American stepped down as chief executive in February last year to become the non-executive chairman, a job title that often precedes retirement in major Japanese firms. And on Friday the 71-year-old said he would leave the firm that he headed during a tumultuous period that included an embarrassing data breach at its online gaming service and struggles in its money-losing television unit. Stringer, a former journalist, had a long career at US broadcaster CBS before joining Sony, rising to become chief executive in 2005 as the Japanese giant's first foreign chief. "A new world is opening up for me... one that allows me to complete my plan to retire from Sony, which I expect to do at the conclusion of my term later this year," Stringer said in a speech Friday to the Japan Society in New York. "That will allow me to move forward with new opportunities I've been presented with lately." Stringer, whose term ends at the shareholders' meeting in June, offered few details on his plans except to mention board directorships in the "areas of personal and philanthropic interest to me, namely medicine and education". He was succeeded by Kazuo Hirai, a games and music veteran, who said in a statement that "Howard's achievements as CEO of Sony are innumerable", citing a reorganisation of the firm's corporate focus. While Stringer was lauded for boosting Sony's entertainment business, he made little progress in fixing its troubled electronics unit, including the TV division, which has been hit by falling prices and fierce overseas competition. Hirai has described a huge overhaul of Sony's business as "urgent", including thousands of job cuts, after it lost 456.66 billion yen (US$4.75 billion) in its last fiscal year to March, the fourth year in the red. Sony has forecast a 20 billion yen net profit in the current year to March. The company has announced a series of asset sales recently, including offloading its US headquarters in Manhattan for more than US$1.0 billion and booking a US$1.2 billion gain from selling part of an online medical services unit. In February, Sony announced it would launch its PlayStation 4 system as it faces increasing competition from cheap -- or sometimes free -- downloadable video games for smartphones and tablets. Sony shares finished 3.0 percent higher at 1,508 yen in Tokyo on Monday.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today former sony ceo stringer to retire Arab Today, arab today former sony ceo stringer to retire

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today former sony ceo stringer to retire Arab Today, arab today former sony ceo stringer to retire

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday