Sony ‘Shifting Gears’ When It Named Hirai CEO, Stringer Says

Sony urgently needs to have newly named CEO Kazuo Hirai "in charge as we redouble our efforts at recovery," outgoing CEO Howard Stringer told a management meeting in Tokyo. Stringer spoke as Sony said it swung to a $1.2 billion Q3 operating loss ($1 = 78 yen, the rate in effect at the end of the quarter) from a year-earlier profit on sales that fell 17.4 percent to $23.4 billion.

"Keep in mind about how much of these worst of times have been the result of disasters inflicted on us, not by us," Stringer said. "It is not to say we’ve not made mistakes. Surely we have, and hopefully we have learned from them all. But there can be no denying that if it were not ... Log in to view full article.

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