Monday, March 07, 2005

WSJ.com - Sony, Lagging Behind Rivals, Hands Reins to a Foreigner

WSJ.com - Sony, Lagging Behind Rivals, Hands Reins to a Foreigner: "In the biggest management upheaval in Sony Corp.'s 59-year history, Chairman and Chief Executive Nobuyuki Idei resigned after a series of stumbles and handed the reins to Welsh-born American Howard Stringer, a former television executive who heads Sony's U.S. operations.
The move represents a recognition that Sony badly needs to change as it navigates a transformation in its core consumer-electronics business. The company that invented the Walkman and dominated the videogame market with its PlayStation machine has increasingly lagged behind in the Internet era. Nimbler rivals have beaten Sony to market with new products such as flat-panel television sets. The rapid rise of Apple Computer Inc.'s iPod digital music player has given Sony fits."
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