It has been recently revealed that the global giant Sony has replaced its CEO Howard Stringer by Kazuo Hirai. This has been done due to the recent losses incurred by the firm and the ranking as which has revealed that they have been left behind by other leaders like Samsung and Apple.

Sony is Japan’s largest firm for manufacturing consumer electronic good, and shall now be led by Mr. Kazuo. He shall take charge of the firm from the 1st of April. It has further been revealed that Mr. Stringer shall become the board chairman, after a board members meeting that is to be held in June.

It is because of the cut throat competition in the market that is making these huge firms make such radical changes in their plan of actions. They simply want to reach the top, and don’t want to compromise on standards, which would make them lose to their competitors. They need to make new plans for beating their rivals in this eco0nomic downturn.

“Sony won’t change, whoever becomes president,” “Sony chose a foreigner, but that didn’t change the company. That proves how difficult it is. Sony has to show what the action plans are to convince investors”, said Mitsushige Akino, from Ichiyoshi Investment Management Co. in Tokyo

The firm now needs to develop a new plan of action together with the new CEO, which will help them fight it out among the best of the firms, and become the world leader. They shall need proper methods of promotion and marketing and more research and development to have an extra edge over the others in the time to come. It’s a matter of time to see how the company fares once the new CEO takes charge.