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March, 7th 2005

Howard Stringer is taking over Sony's Chairman/CEO post from Nobuyuki Idei, becoming the first non-Japanese person to lead the company. The Sony BMG Music Entertainment label operations will now also fall under his purview, although he already occupies a seat on the division's board of directors.

Sony Corp. owns a 50% share of Sony BMG Music. Stringer also retains his responsibilities as Chairman/CEO of the subsidiary Sony Corp. of America and COO of Sony Entertainment Business Group. The change is expected to become official at Sony's June 22 shareholders' meeting.

Prior to joining Sony, Stringer spent 30 years at CBS, including two years as President/CBS News and another seven as president of the overall network. He is credited with resurrecting the television network and luring late-night host David Letterman away from rival NBC.

Stringer said he hopes Sony's global operations can mirror the success the company has had in the United States. "We have clearly demonstrated in our U.S. operations that we can achieve significant cross-company efficiencies, and at the same time deliver both extraordinary quality and record returns. I believe the entire global organization is hungry to make this same transition, and all of us in senior management are committed to achieving that goal."

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source: Radio and Records
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