Sony Chairman Howard Stringer to retire in June

Nearly a year after the company replaced him as CEO, Stringer announces he will step down from the board of directors in June.

Howard Stringer in 2011.
Howard Stringer in 2011. Stephen Shankland/CNET

After having led Sony's board of directors for a year, former CEO Howard Stringer has announced that he will retire from the company in June, the Financial Times reported.

Stringer had his role with Sony increasingly minimized over the last few years. After serving as CEO from 2005 to 2012, Stringer was replaced in that role by Kazuo Hirai, who was at the time head of Sony Computer Entertainment. Stringer remained on the board and then replaced board chairman Yotaro Kobayashi in June of 2012.

Stringer spoke of his decision to retire during a Japan Society lecture in New York, according to the Financial Times, and said he would pursue "new opportunities I've been presented with lately." He didn't elaborate on the opportunities or any future plans.

Under Stringer's watch, Sony financials slumped and its major businesses, including the PlayStation and HDTVs, lost market share.

Kobayashi has said previously that Stringer "has a unique capacity to inspire people, to build teams, to make the tough decisions, and to think with clarity and foresight about the challenges we face and how to surmount them."

Featured Video
6
This content is rated TV-MA, and is for viewers 18 years or older. Are you of age?
Sorry, you are not old enough to view this content.

The problem with Amazon Dash buttons

Limits on choice mean new shopping gadget won't click for everyone. Bridget Carey explains how the buttons work, and the rule changes for sharing your Prime perks with others.

by Bridget Carey