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<Press Release>
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| The following information is true and accurate at the time of publication.
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May 7, 1998
Sony Announces Executive-Level Changes in Management
Tokyo, Japan - Sony Corporation today announced the following executive-level changes in management:
- 1) President Nobuyuki Idei will become Co-Chief Executive Officer (Co-CEO), effective immediately.
- In his role as Co-CEO, President Idei will share with Chairman and CEO Norio Ohga the responsibility for overseeing the management operations of both Sony Corporation and the entire Sony Group as well.
- 2) Sony has introduced a new group management system effective May 1, 1998. The new system replaces the special corporate executive officer positions that were created for top management of major subsidiaries and affiliated companies last June with new group executive officer positions.
- The criteria used in appointing the executives from subsidiaries and affiliated companies to new group executive officers will be the same as that used to appoint corporate executive officers. Appointments will be made based on the capabilities and performance of the candidates rather than the rank they hold in their respective companies.
- The above change has been implemented as part of an on-going effort to optimize the management effectiveness of Sony Group operations worldwide.
Sony Group Executive Officers ( effective May 1, 1998 )
| Name | Company Title / Company Name |
|---|
| Ken Iwaki | president, Sony Life Insurance Co., Ltd. |
| Junichi Kodera | president and representative director, Sony
Marketing (Japan), Inc. |
| Yoshio Ishigaki | president, Aiwa Co., Ltd. |
| Shugo Matsuo | chairman, Sony Music Entertainment (Japan),Inc. |
| Sumio Sano | president, Sony Precision Technology Inc. |
| Teruaki Aoki | president and COO, Sony Electronics Inc. |
| Motoyasu Kanasugi | president, Sony Finance International Inc. |
| Shigeo Maruyama | president, Sony Music Entertainment (Japan),Inc. |
| Toshiyuki Yamada | member of the board of trustees, Sony Institute
of Higher Education |
| Masahiro Hayashi | executive deputy president and representative
director, Sony Marketing (Japan), Inc. |
| Toshiharu Sawada | senior managing director, Sony Marketing(Japan), Inc. |
| Masao Morita | counsellor, Sony Music Entertainment (Japan),Inc. |
| Teruhisa Tokunaka | president, Sony Computer Entertainment, Inc. |
| Ken Kutaragi | executive deputy president, Sony Computer
Entertainment, Inc. |
| Jakob J. Schmuckli | chairman and CEO, Sony Europe |
| Howard Stringer | president and COO, Sony Corporation of America |
| Thomas D. Mottola | president and CEO, Sony Music Entertainment,Inc. |
| John Calley | president and CEO, Sony Pictures
Entertainment, Inc. |
| to be named Group Executive Officer effective June 26, 1998: |
| Teruo Masaki | deputy president, Sony Corporation of America
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| 3) New member for Board of directors ( effective June 26, 1998 ) |
| Akiyoshi Kawashima | corporate senior vice president and president,
Recording Media & Energy Company, Sony
Corporation |
- 4) Resigning director
- Tsunao Hashimoto, vice chairman and representative director, Sony Corporation, will resign from the board of directors, effective June 26, 1998. Mr. Hashimoto will assume the role of advisor, Sony Corporation, as of June 26, and will be named chairman and representative director of Sony Life Insurance Co., Ltd. in early July, 1998.
- 5) New corporate executive officers
- At the Board of Directors meeting immediately following the Ordinary General Shareholders' meeting held on June 26, 1998, the following individuals will be elected as corporate executive officers, in addition to their current positions below:
| Mitsuyuki Watanabe | president, Electronic Devices Marketing Group,
Sony Corporation |
| Tadakatsu Hasebe | deputy president, Display Company, Sony Corporation |
| Kenichiro Yonezawa | senior general manager, Legal and Intellectual
Property Division, Sony Corporation |
| Yoshihide Nakamura | president, Computer Peripherals &
Components Company, Sony Corporation |
| Akira Kubota | president, Corporate Information Systems &
Solutions, Sony Corporation |
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