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Sony chairman Howard Stringer set to retire, explore 'new world'

First foreign CEO leaves for good

Internet Security Threat Report 2014

Sony chair and former CEO Howard Stringer is set to retire from the firm completely this June.

The Welsh-born businessman already left his CEO seat last year after seven years on the job and will now leave the board entirely.

Stringer spent 15 years at Sony after a three-decades-long stint at US broadcaster CBS and rose to become the first foreign chief exec in 2005.

The now-71-year-old had a tough time at the helm of the Japanese firm, which has spend the last few years trying to restructure its business and cut costs as its tech star stalled out while that of competitors like Apple's and Samsung's were rising.

He announced his decision to retire during a speech to the Japan Society in New York on Friday, the New York Times, BBC and others reported, saying he was ready to step down after handing over the running of the company to Kazuo Hirai last year.

“I was pleased to hand the reins to Kazuo Hirai last year because I saw in him the right mix of skills to lead Sony, and I knew it was the right time to bring about generational change,” he said.

"A new world is opening up for me... one that allows me to complete my plan to retire from Sony, which I expect to do at the conclusion of my term later this year. That will allow me to move forward with new opportunities I've been presented with lately," he added. ®

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