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Stringer shakes up struggling Sony
Sony CEO Howard Stringer has taken over the stumbling company's main consumer electronics business after removing Ryoji Chubachi from the helm.
Stringer, who has been with Sony since 1997 after a long career in television, will replace Chubachi as president.
Chubachi has been reassigned; the 32-year Sony veteran will become vice chairman of product safety, quality and environmental issues.
The changes will become effective on 1 April 2009.
The company will also reorganise its various businesses into several new groups.
The global recession and political infighting within Sony have conspired to besiege Japan's largest consumer electronics company with mounting problems. The company forecast a record US$2.7 billion loss for 2009.
Sony's stock was up 2.58% to $16.67 per share in mid-day trading on Friday.
