Howard Stringer: Turning Sony Around
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Code :LDS0024C
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Region : Japan |
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Sony: The Road Travelled Founded in Tokyo in 1946, Sony is considered to be the brainchild of two men, Masaru Ibuka, an Engineer and Akio Morita, a Physicist (Annexure II). They are said to have invested Yen190,000 (currency of Japan) to start the company with 20 employees repairing electrical equipment in an attempt to build their own products. The name ‘Sony’ was formed by combining two words – ‘sonus’ which is the root of words like ‘sound’ and ‘sonic,’ and ‘sonny boy,’ a popular expression used in Japan at the time to describe a young person with a free and pioneering spirit... Sony: On the Tough Tide HSBC on November 28th 2005 signaled the end of an era when it announced that the long serving chairman Sir John Bond was to retire after 45 years. The shares of HSBC fell to £9.40 upon the announcement of his retirement (Exhibit 3). According toCharlesDallera, theManagingDirector of Institute of InternationalFinance17 , Bond had demonstrated that with the highest standards of conduct one could run a global, world-class successful banking organization.18 Analysts felt that Bond was leaving a legacy behind at HSBC.19 Some analysts were, however, of the opinion that despite Bond’s legacy, Green could also be a very formidable and successful chairman... Stephen Green’s Profile StephenGreen (Green) joinedHSBCin 1982. He took over the responsibilities of corporate planning activities. In 1985, he was in charge of the Global Treasury operations. In 1992, he became the group treasurer of HSBC Holdings with responsibility for the HSBC group’s treasury and capitalmarkets globally. He wasmade the Director of HSBC Bank in 1995. In 1998, Green was appointed Executive Director of Investment Banking andMarkets for Investment banking, Asset-management and PrivateBanking activities. In 2002, he assumed responsibility forCorporateBanking business. In May 2003, he took over as the Chief Executive of the whole group. Green spend around 20 years in the bank and adhered to the corporate culture of HSBC.Greenwould take over as the chairman of HSBCholdings from May 2006... |
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