Stringer Adds President Title At Sony Corp.
February 27, 2009 at 6:16 AM (PT)
SONY CORPORATION Pres. RYOJI CHUBACHI will step down from his position on APRIL 1st and Chairman/CEO HOWARD STRINGER will add CHUBACHI's duties and title as President.
The change, which puts STRINGER in control of the company's electronic business as well as the company's entertainment divisions, comes as the company projects its first annual net loss in 14 years, $2.7 billion. The company is also merging its VAIO computer, WALKMAN and SONY COMPUTER ENTERTAINMENT divisions into the Networked Products and Services Group, headed by KAZUO HIRAI. TV manufacturing, cameras, and audio and video operations are moving to the New Consumer Products Group under HIROSHI YOSHIOKA.
CHUBACHI, who was named President in 2005, will stay on as VP/Product Safety, Quality and Environmental Issues. STRINGER, the former President of CBS, joined SONY in 1997.