Sony Shareholders OK New Management

Sony says the appointment is an effort at helping speed up ways to take advantage of Sony's strengths in gadgets and entertainment content, which includes video games, movies and music, to come up with new businesses.

Such "synergies" have been promised for years, but have never really materialized as Sony got overtaken by rivals like Apple(AAPL Quote) that came out with products to do just that.

Sony has acknowledged it had not been quick enough, and had lost to not only Apple but Asian makers like Samsung Electronics. In the past, divisions in the company failed to communicate well, and Sony didn't fully exploit the potential of its sprawling operations, according to officials.

Chubachi had overseen the electronics business, which has been hit by shrinking consumer demand and the strong yen. The problems in electronics, including losses in TV operations, is the main reason Sony is losing money.