Howard Stringer has taken on the role of president at Sony, the Japanese company. Stringer was already the CEO and current Chairman. This move puts Stringer in total control as current president Ryoji Chubachi slides into the vice chairman seat.
The charges are slated to start April 1.
No this isn’t an April Fool’s Joke but the reality for Sony. Other plans are to set up two separate groups, one covering PlayStation and Vaio PCs while the other handles Bravia flat TVS, Cyber-shot digital cameras and Handycam camcorders. Kaz Hirai will head the division overseeing computers and gaming systems. He is a veteran of Sony who speaks fluent English. American Kunimasa Suzuki, Currently Sony Electronics President will become the senior vice president of Sony and deputy president of the new group.
Stringer was the first foreign executive to lead the Tokyo-based company when he took the reins in 2005. Since that time Sony has yet to be restored to its glory days as the head of the pack in media products.
Market Watch reports:
“This reorganization is designed to transform Sony into a more innovative, integrated and agile global company with its next generation of leadership firmly in place,” Stringer said in a statement Friday. “The changes we are announcing today will accelerate the transformation of the company that began many years ago.”
The changes announced come one month after Sony announced that for the first time in 14 years it had an entire year loss. Because of that Sony has been forced to cut 16,000 jobs from the electronic operations department and close six plants. The goal there is to save more than 100 billion yen in annual costs.
By the end of the financial year ending next month Sony is expecting to have an operating loss of 260 billion yen.
PC World reports:
“The changes we’re announcing today will accelerate the transformation of the Company that began four years ago,” Stringer said in a statement. “They will now make it possible for all of Sony’s parts to work together to assume a position of worldwide leadership and, together, achieve great things.”