News Summary: New Sony president gets OK

AP News
Posted: Jun 27, 2012 10:59 AM
News Summary: New Sony president gets OK

APPROVED: Kazuo Hirai, the former head of Sony Corp.'s game division, won shareholder approval Wednesday to be the company's new president and chief executive.

UNREST: Frustrated investors at the company's annual meeting in Tokyo demanded to know how the company's past glory was going to be revived.

THE BACKDROP: Once an icon of Japan with its portable Walkman music player, Sony reported its worst loss in its 66-year corporate history for the business year ended March. It has stumbled in the face of powerful rivals such as Samsung Electronics Co. and Apple Inc.