• Bloomberg

  • SHARE

Sony Corp. Chief Executive Officer Howard Stringer said he’ll remain in his post and is determined to turn around the consumer-electronics giant that has predicted a fourth straight annual loss.

“I’m up for the fight,” Stringer, 69, said at an event in New York Thursday. “I’m going to get the company through it.”

The world’s No. 3 TV maker this month unexpectedly forecast a full-year loss and slashed its TV sales targets after the yen reached a postwar high and floods in Thailand cut production. Stringer is trying to revive sales by introducing tablet computers and Internet-enabled TVs amid competition from Apple Inc. and Samsung Electronics Co. “I’m fighting,” he said.

Stringer’s comments came after The New York Post reported last week that Stringer may step down as CEO in March while remaining chairman. The newspaper cited people it didn’t identify.

In March, Sony promoted Kazuo Hirai to oversee a new unit combining cameras, TVs and other consumer electronics, making him a possible successor to Stringer as CEO. Stringer said at the time Hirai is gaining the “leadership position” to replace him, and Sony could still consider more candidates for the three positions he held.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW