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Sony Corp. appoints new chief strategy officer

Sony Corp. appoints new chief strategy officer

Fri 08 Nov 2013 8:35am GMT / 3:35am EST / 12:35am PST

Kenichiro Yoshida takes over in the wake of lowered forecasts on TV, camera and computer sales

Kenichiro Yoshida has replaced Tadashi Saito as Sony Corp.'s chief strategy officer.

Saito was chosen to lead Sony Corp.'s strategy by Kazuo Hirai, the company's president, in April, 2012. At that time, Sony's television business was losing billions, and the appointment of Yoshida suggests that the company has yet to define the best path forward.

According to Reuters, Moody's Investors Service suggested that Sony's credit rating may be downgraded to "junk" as a result of its recent six-month financial report, in which it was forced to cut sales forecasts on TVs, cameras and computers.

As a whole, Sony lost 19.3 billion ($197 million), despite significant gains on the value of the Yen.

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