TOKYO, March 6 /PRNewswire/ -- Sony Corporation's current management team
today proposed the creation of a new management structure designed to expand
upon its core strengths as a global electronics, entertainment and technology
company. The proposal was approved at the Board of Directors' Meeting held
today. Effective June 22, subject to approval at Sony Corporation's Ordinary
General Shareholder's Meeting that day, the following new management team will
lead the company:
1) Sir Howard Stringer (currently Chairman & CEO Sony Corporation of
America, Corporate Executive Officer, Vice Chairman and COO Sony
Entertainment Business Group) will assume the position of Chairman,
Group CEO and Representative Corporate Executive Officer, Sony
Corporation. Sir Howard will run Sony's overall group business
operations on a global basis from headquarters in both New York and
Tokyo. In this new position, he will also continue in his role as the
head of the Entertainment Business Group and head of Sony Corporation
of America.
2) Dr. Ryoji Chubachi (currently Corporate Executive Officer, Executive
Deputy President and COO of MSNC and EMCS) will assume the position of
Representative Corporate Executive Officer, President of Sony
Corporation and CEO of the Electronics Business Group of the company.
In this new position, Dr. Chubachi will have overall responsibility
for Sony's electronics businesses worldwide.
3) Mr. Katsumi Ihara (currently Corporate Executive Officer, Executive
Deputy President and Group CFO) will assume the role of Representative
Corporate Executive Officer, Executive Deputy President and Group CFO,
Sony Corporation. Mr. Ihara will oversee financial matters and
support Sir Howard and Dr. Chubachi with respect to overall corporate
strategy and resource allocation.
The current management team led by Mr. Nobuyuki Idei, Representative
Corporate Executive Officer, Chairman and Group CEO has implemented an
effective reallocation of group-wide resources and promotion of cross-border
alliances within the Sony Group. This has resulted in the significant
strengthening of the entertainment content businesses, the solidifying of the
mobile phone business, the development of the next generation semiconductor
chip, and the integration and expansion of the financial services business.
As a result, Sony is now poised to move forward with its global entertainment,
electronics and technology strategy.
This is a pivotal year for Sony Corporation, and this new structure will
enable the company to streamline its operation, and provide a more cohesive
focus for operating its businesses around the world in a proactive and
strategic manner.
In addition the Nominating Committee agreed to submit the nomination of
the following officers as Board member candidates to be formally appointed at
the meeting of Sony Corporation's Ordinary General Shareholders' Meeting on
June 22, 2005 in Tokyo.
(Board Member Candidates)
Howard Stringer
Ryoji Chubachi
Katsumi Ihara
According to the above, the following current members of the Board will
resign from their respective Board memberships as of June 22, 2005.
(Board Members Scheduled to Resign)
Nobuyuki Idei
Kunitake Ando
Teruo Masaki
Ken Kutaragi
Teruhisa Tokunaka
Goran Lindhal
Akihisa Ohnishi
While formal appointments will be made on June 22, this management
transition will begin effective immediately.
Nobuyuki Idei, who has served as Director, Representative Corporate
Executive Officer, Chairman and Group CEO and Kunitake Ando, currently
Director, Representative Corporate Executive Officer and President will become
Chief Corporate Advisor and Advisor of Sony Corporation, respectively, as of
June 22 and will continue to support the new management team from an overall
Sony Group management standpoint.
(Comments from Nobuyuki Idei) From June, the Sony Group will have a new
management team centering on Sir Howard Stringer and Dr. Ryoji Chubachi. Both
men have a deep understanding of Sony's great tradition and through their open
management style they will focus intensely on energizing the entire Sony
Group. Sir Howard is an executive admired both within the Sony Group and in
the wider business community. His global perspective allows him to bring
Sony's electronics and entertainment groups together and to integrate their
resources effectively. Naturally, Sir Howard fully understands Sony's
longstanding spirit of freedom and open-mindedness. Dr. Chubachi's deep
experience with the electronics business and profound understanding of
technology issues have won the respect of Sony's engineering community. The
new management team of Sir Howard and Dr. Chubachi joined by Mr. Ihara will
work together to successfully integrate Sony's abundant resources in
electronics, entertainment and technology. I have great confidence in their
ability to lead Sony boldly and flexibly into the future. It has been the
greatest honor for me to lead Sony for 10 years as this global company has
transitioned from analog to digital, integrated its electronics and
entertainment cultures and moved into the broadband age. I have the highest
expectations for Sony as it begins a new phase under a new management team.
(Comment from Kunitake Ando)
Since I became President in 2000, there have been radical changes in the
global business environment. However, I firmly believe that the current
management team has laid the foundations for future growth. Our mobile phone
business has been revitalized through the establishment of Sony Ericsson
Mobile Communications (SEMC) and we have created a stronger and more efficient
production, sales and distribution platform. With this base secured, Mr. Idei
and I concur that now is the best time to make the transition to a new
management team. Our designated President Mr. Chubachi has a deep knowledge
of the key devices that are essential to success in the technology and
electronics business. He also fully understands the production processes that
are at the heart of any manufacturing company and I believe he is the right
person to lead Sony's electronics business into its next phase of development.
I urge all Sony employees to give their full support to the new management
team as we move forward to a new era for Sony.
(Comments from Sir Howard Stringer) I am delighted to be joining Dr.
Chubachi, Mr. Ihara and the extremely talented global management team to lead
Sony Corporation. Sony has an unparalleled legacy of boldness, innovation and
leadership around the world. Together we look forward to joining our twin
pillars of engineering and technology with our commanding presence in
entertainment and content creation to deliver the most advanced devices and
forms of entertainment to the consumer. I am grateful to Mr. Idei and to Mr.
Ando for the confidence they have shown in me, and the Sony Board of Directors
for their support, and to the many talented executives throughout this
organization who have shown their desire to lead and to innovate. We have
clearly demonstrated in our US operations that we can achieve significant
cross-company efficiencies, and at the same time deliver both extraordinary
quality and record returns. I believe the entire global organization is
hungry to make this same transition, and all of us in senior management are
committed to achieving that goal.
(Comments from Ryoji Chubachi) This is a pivotal time for Sony
Corporation, and I keenly feel my responsibilities. My first priority is to
revitalize our electronics business in close coordination and cooperation with
Sir Howard and Ihara-san. Building on Sony's legendary corporate culture of
creativity and speedy implementation, we will work to deepen communication and
enhance our entire group performance. I will give Sir Howard full support to
achieve the paramount goal of transforming Sony.
(Comments from Katsumi Ihara) The next chapter in Sony's history will be
its most exciting. We have already made tremendous strides to expand
cross-company initiatives and address business efficiencies. The solid growth
of our US operations and the continued brand strength there will help inspire
many of our future activities. Since I joined Sony, I have experienced
almost all areas of the company's consumer electronics business. I also have
had opportunities to manage Sony's overseas affiliates. Together with Sir
Howard and Chubachi-san I look forward to the many opportunities before us.
SOURCE Sony Corporation
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Related links:
http://www.sony.com
CONTACT:
Press: Kei Sakaguchi, or Gerald Cavanagh, or
Sue Tanaka, or Keita Sanekata, all of Sony Corporation,
+81-3-5448-2200, or Ann Morfogen, +1-212-833-6873, or Mack Araki,
+1-212-833-6821, or Jennifer Glass, +1-212-833-6975, or Susan
Tick, +1-310-244-6777, all of Sony Corporation of America
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