- Howard Stringer
, Chief Executive Officer of the Sony Corporation, just received a promotion. He is now going to be taking over as President of the main electronics business, as the former holder of that position, Ryoji Chubachi
, will become Vice Chairman in charge of product safety, quality and environmental issues.
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: "The Japanese can't take decisive actions toward their comrades during hardship," said Yuuki Sakurai
, general manager of financial and investment planning at Tokyo-based Fukoku Mutual Life Insurance Co., which manages $54 billion in assets.
"As a non-Japanese without such loyalties, Stringer is better positioned to conduct the large-scale restructuring that Sony has to do."
It is hoped that the reassignment of the 32-year Sony veteran Chubachi will help clear the way for Stringer to reorganize the company amidst losses, cutbacks, and global recession.
Press Release: Tokyo, February 27, 2009 - Sony Corporation ("Sony" or the "Company") today announced a major reorganization and a new management team. The changes, effective April 1, 2009, will fundamentally reorganize the company's electronics and game businesses to improve profitability and...