Howard Stringer to Step Down as Sony Chairman in June

Sir Howard Stringer, chairman and former CEO of Sony, announced that he will retire this year. It is anticipated that Stringer will formally stand down at the company’s annual shareholder meeting in June. The Welsh-born businessman served as Sony’s CEO from 2005 to 2012 and has been with the company for 15 years. Last year, he handed over the chief executive role to Kazuo Hirai, the former head of Sony’s video games unit. Continue reading Howard Stringer to Step Down as Sony Chairman in June

Sony, Hitachi and Toshiba Join Forces for Planned LCD Venture

  • Sony, Toshiba and Hitachi announced they plan to merge their small screen divisions into one liquid crystal behemoth, to be known as Japan Display.
  • “The deal could create the world’s biggest maker of LCDs for mobile phones and cameras,” reports the New York Times, “with 22 percent of the market for small and midsize screens, according to DisplaySearch, an industry research firm.”
  • “By integrating each partner company’s wealth of display expertise and know-how, I am confident the new company will become a driving force for technological innovation and new growth in the rapidly expanding market,” says Howard Stringer, Sony’s chief executive.
  • The Japanese government has reportedly encouraged its nation’s manufacturers to consolidate as a means of competing with rivals such as South Korea’s Samsung, which is presently more profitable than any Japanese electronics manufacturer.
  • The venture must gain approval from antitrust regulators in Japan in order to move forward.