Sony Approves Stringer As CEO; New Biz Plan By Sept

Can Sony be saved or reinvented? It is all down to the new CEO: Sony shareholders have approved Howard Stringer as the company’s CEO…

Blooomberg: “My first priority is revitalizing the electronics business and face the new competition out there,” Stringer said. Sony will “announce a strategy in late September that will increase profit and provide greater shareholder value.”

Stringer also said today that he plans to move the company’s movie library to the new Blu-ray DVD format once it’s available, which will help sales of recorders and PlayStation 3 consoles. “Entertainment supports electronics,” he said. “It is not more important than electronics.”