The Sony Board of Directors have approved 15 directors, including American Howard Stringer. Besides acting as chairman and chief executive, Stringer is taking an another title — president — as announced last February.
Over 8,000 investors were in attendance at the annual shareholders meeting in Tokyo. Stringer told investors that the company was trying to streamline business. For example, Sony Computer Entertainment CEO Kaz Hirai will head a new business group that brings together Sony's mobile electronics and personal computers.
"This reorganization is designed to transform Sony into a more innovative, integrated and agile global company," said Stringer earlier this year. These changes and reorganization "will now make it possible for all of Sony's parts to work together."
Sony has been posting enormous losses due to a strong yen, global economic slump and competition from rival companies like Apple and Samsung.