Sony shareholders approve new management

Sony shareholders approved a new management setup at the Japanese electronics and entertainment company on Friday that will center power around Chief Executive Howard Stringer and a team of younger executives.

They approved 15 directors, including Welsh-born American Stringer, the first foreigner to head Sony, who is taking on an additional title of president as well as serving as chairman and chief executive

Sony has been no exception among Japan's export-reliant manufacturers in racking up huge losses for the fiscal year that ended in March -- its first annual net loss in 14 years and its first ever caused by red ink in its core electronics business.

Under the new management team, announced in February, Sony has centered power in Stringer to streamline decision-making.

I think this is an effort to speed up ways to take advantage of Sony's strengths in its core businesse in order to come up with new businesses.

share price: 26.24