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Media

How Long Does Sony’s (SNE) CEO Stringer Keep His Job?

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By Douglas A. McIntyre Updated Published
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Sir Howard Stringer is the first non-Japanese to run Sony (SNE) and putting him into the job was probably a mistake. He was promoted to “re-invent” the company. Instead, he has done what most chief executives without imagination do by cutting thousands of jobs.

The cost reductions did not keep Sony from losing $1 billion in the fiscal year that ended on March 31. Sony forecast another loss for this year.

Stringer’s failure falls into two parts. He has not gotten Sony’s world-renowned engineering staff to introduce a single successful mass market consumer electronics product. Competitors including Apple (AAPL) have outflanked the Japanese company at every turn.

Stringer has also not done anything to break into pieces a company which has several unrelated parts. The firm’s large movie studio does not support the businesses of making TV screens or video games. The content operation should be part of one of the media conglomerates such as Viacom (VIA) or Time Warner (TWX). The billions of dollars that would come from auctioning it off would at least pump up the Sony balance sheet and give investors some hope that the company will not continue to drift into the rapids.

Stringer has had his chance. It is someone else’s turn.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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