Sony dumps Chief Strategy Officer

Tadashi Saito, Sony Corp’s Chief Strategy Officer, has been replaced by Kenichiro Yoshida. Saito was only appointed 18 months ago (in April 2012) but looks like taking much of the blame for a lack of turnaround at the electronics-to-movies giant.

Sony last week reported another loss in its electronics business (mostly in TVs), and where accumulated losses now top $9 billion over the past 9 years.

Sony’s share price crashed 11 per cent over the past few days, and there’s a very real risk that the ratings agencies are considering downgrading Sony’s credit status to junk levels.

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