Sony's board agreed to appoint Stringer, 63, at an extraordinary meeting in Tokyo on Monday morning. Current CEO Nobuyuki Idei, 67, will step down to take responsibility for slumping earnings after five rocky years at the helm.(Photo: Xinhua/Reuters)(Photo: Xinhua/AFP)

BEIJING, Mar. 7(Xinhuanet)-- Sony Corp. named the British-born head of its US operations, Howard Stringer, as its new chairman and chief executive on Monday. Sony's board agreed to appoint Stringer, 63, at an extraordinary meeting in Tokyo on Monday morning. Current CEO Nobuyuki Idei, 67, will step down to take responsibility for slumping earnings after five rocky years at the helm. It is the first time for Sony to name a foreigner to head the major Japanese electronics firm as the company seeks to improve results at its faltering core electronics business. Stringer, a former TV journalist, will face the difficult task of boosting profitability at Sony, a sprawling conglomerate whose core electronics division is in danger of falling into the red for a second straight year in the business term ending on March 31 amid tough price competition and a lack of hit products.

He has worked for Sony since May 1997. He has a reputation for intelligence and self-deprecating humour.

Stringer oversaw Sony's decision to combine its music business with Bertelsmann AG in 2003 and last year's move to take over MGM.

The appointments will be formally approved by shareholders 22 June but the management transition will start immediately.

(Agencies)