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CEO Sony Howard Stringer is going to step down on 1 April to be replaced by vice president Kazuo Hirai, announces Sony.
Mr. Howard, the first foreigner to lead the company, is going to stay on as chairman. He took over as the chief executive officer in 2005.
According to Mr. Hirai, "were it not for the strong leadership of Sir Howard Stringer these past seven years, we would have been in a much more difficult position."
The BBC reports:
"Sony is predicting its fourth year of net losses for the year to the end of March, hit by the strong yen and poor sales in its television business.
Mr. Howard, the first foreigner to lead the company, is going to stay on as chairman. He took over as the chief executive officer in 2005.
According to Mr. Hirai, "were it not for the strong leadership of Sir Howard Stringer these past seven years, we would have been in a much more difficult position."
The BBC reports:
"Sony is predicting its fourth year of net losses for the year to the end of March, hit by the strong yen and poor sales in its television business.
The company is due to announce its third quarter results on Thursday, when it also says it will give more details of its management changes."
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