Sony Names Stringer CEO
Tokyo-based Sony Corp. has broken with tradition by naming a foreigner, Howard Stringer, as company CEO. He replaces Nobuyuki Idei, who has led Sony Corp. for 10 years.
The unprecedented move is part of a restructuring of Sony’s sagging electronics division by linking it with its entertainment businesses.
The British-American Stringer, who serves as vice chairman of Sony and chief exec of Sony Corp., is credited with making the company’s music and movie divisions bright spots.
He joined Sony in 1997 following stints as president of CBS News and president of CBS Broadcast Group.
“As with all great institutions, Sony has built a tremendous legacy over 60 years. But we cannot let that trap us or inhibit us. We need to take that legacy and reinvent it,” Stringer said.
“The dynamics and competitive landscape have changed. The pace of innovation across all the businesses in which we compete has changed. So Sony too must change.”
Stringer’s appointment by the board is subject to shareholders’ approval in June.
He will continue to live in New York.