Sony Names Foreigner New CEO
Tokyo, Sony has named Howard Stringer, a Welshman-turned U.S. citizen, chief executive of the company. He replaces Nobuyuki Idei, who headed the Tokyo-based company for a decade. Stringer has vowed to revive Sony’s lagging electronics sector by linking it with its entertainment businesses. The electronics giant has been struggling to maintain sales over cheaper competition from Asian rivals such as Matsushita Electric Industrial, owner of Panasonic and Canon.
Stringer, who does not speak Japanese, dismissed concerns about his ability to run the company. He joined Sony in 1997 after serving as president of Viacom’s CBS News from 1986 to 1988, and as president of CBS Broadcast Group from 1988 to 1995. Stringer said that Sony plans to build new products around the next-generation computer chip called “cell,” which will power the next PlayStation upgrade, as well as other devices.
Publix to Open Publix Sabor in May
Lakeland, Fla., Publix Super Markets is rolling out Publix Sabor, the grocery chain’s Hispanic-themed supermarket, in two existing locations in Kissimmee and Hialeah, Fla. The stores will open in early May and feature more Hispanic food and grocery categories than a typical Publix. Bilingual employees will also be part of the mix of Sabor, which translates to “flavor.”
“Publix Sabor was designed to meet the needs of our customers in particular neighborhoods throughout the Central and South Florida regions,” said Maria Brous, director of media and community relations, in a release.
Wal-Mart Contributes to College Fund
Bentonville, Ark., Wal-Mart Stores provided an award of $1.5 million to the United Negro College Fund (UNCF) that includes a $1 million grant to establish the Wal-Mart Emergency Assistance Fund and $500,000 in operating support for UNCF member schools.