Financial Times FT.com

A big gamble in times of trouble

By Tim Burt

Published: June 13 2005 18:48 | Last updated: June 13 2005 18:48

When Sony holds its annual meeting in Tokyo next week, the Japanese corporation will formally hand the controls to an outsider – Sir Howard Stringer, the first foreigner to lead the iconic consumer electronics and entertainment group.

The British-born chairman and chief executive succeeding Nobuyuki Idei may warn shareholders of tough restructuring ahead for the struggling electronics division. But as a veteran of CBS, the American television network, before becoming head of Sony’s US operations, Mr Stringer Sir Howard can point to strong contributions from the group’s entertainment assets – not least its music joint venture with Bertelsmann of Germany.

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