The current management team led by Mr. Nobuyuki Idei, Representative Corporate Executive Officer, Chairman and Group CEO has implemented an effective reallocation of group-wide resources and promotion of cross-border alliances within the Sony Group. This has resulted in the significant strengthening of the entertainment content businesses, the solidifying of the mobile phone business, the development of the next generation semiconductor chip, and the integration and expansion of the financial services business. As a result, Sony is now poised to move forward with its global entertainment, electronics and technology strategy.
This is a pivotal year for Sony Corporation, and this new structure will enable the company to streamline its operation, and provide a more cohesive focus for operating its businesses around the world in a proactive and strategic manner.
In addition the Nominating Committee agreed to submit the nomination of the following officers as Board member candidates to be formally appointed at the meeting of Sony Corporation's Ordinary General Shareholders' Meeting on June 22, 2005 in Tokyo.
(Board Member Candidates)
According to the above, the following current members of the Board will resign from their respective Board memberships as of June 22, 2005.
(Board Members Scheduled to Resign)
While formal appointments will be made on June 22, this management transition will begin effective immediately.
Nobuyuki Idei, who has served as Director, Representative Corporate Executive Officer, Chairman and Group CEO and Kunitake Ando, currently Director, Representative Corporate Executive Officer and President will become Chief Corporate Advisor and Advisor of Sony Corporation, respectively, as of June 22 and will continue to support the new management team from an overall Sony Group management standpoint.