Sony Chairman Steps Down Jan 28, 2003

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Sony Corp. said Tuesday that it is reorganizing the structure of its board to increase the effectiveness of its corporate governance.

The consumer-electronics and entertainment giant also said its chairman of the board, Norio Ohga, is stepping down because of health concerns following a collapse last year and will become honorary chairman. Chief Executive Nobuyuki Idei will replace Mr. Ohga as chairman. The changes take effect Thursday.

Mr. Ohga served as Sony's president from 1982 to 1995. He collapsed with a brain hemorrhage last year while conducting an orchestra at a music festival in China but has since recovered and is back at work.

Mr. Ohga has held a largely ceremonial post for the past 2 years, while Mr. Idei and Sony President Kunitake Ando have been in charge of Sony's day-to-day operations. (Dow Jones)

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