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Sony Chairman Stringer to Retire

Howard Stringer announced Friday during a speech in New York that he will step down as chairman of Sony Corp.'s board of directors this summer.

According to a copy of his speech provided to B&C, Stringer will retire at the company's annual shareholder meeting in June. 

"A new world is opening up for me, too, one that allows me to complete my plan to retire from Sony, which I expect to do at the conclusion of my term later this year. That will allow me to move forward with new opportunities I've been presented with lately."

Kazuo Hirai, who had succeeded him as president and CEO last April, also said in a statement: "Earlier this year, Sir Howard Stringer confirmed to me his desire not to continue as Chairman of the Board at the end of his current term, which expires at Sony's Shareholders Meeting in June.  While I know he has been planning for this moment, and respect his wish to pursue new opportunities, he will be deeply missed by all of us at Sony."

In 2005, Stringer became the first non-Japanese executive to lead the company. He replaced Yotaro Kobayashi as chairman of the board of directors June 1, 2012.

The Financial Timesfirst reported the news.