Former Sony CEO Howard Stringer to Retire in June

Sony chairman and former chief executive officer Howard Stringer has announced that he will retire from his position within the firm in June. The Welsh businessman announced his departure as part of a speech at the Japan Society in New York City last week, where he revealed that he will turn his attention to the healthcare and education fields once his tenure at the Japanese manufacturer concludes.

Former PlayStation president Kaz Hirai replaced Stringer as CEO last April, and had nothing but praise for his predecessor in a statement. “Howard’s achievements as CEO of Sony are innumerable; from breaking down silos and driving ‘Sony United’, to fundamentally realigning the focus of Sony’s product development,” he said.

Hirai has been selling off some of Sony’s biggest assets in order to raise cash and drive the company back to profitability. Early signs indicate that the measures have been successful, but there’s still a long way to go. The executive is banking on the firm’s gaming, digital imaging, and mobile divisions to turn its fortunes around.