Ex-Sony executive criticized CEO Hirai for early shareholder meet

Transition might vary and can be indeed hard. This is how Sony Corp perceived to be as of the moment. The influential former Sony Corp Executive urged the company's current Chief Executive Kazuo Hirai to focus on innovation than restructuring and putting criticisms in a letter on one of the leading Japanese firm's management to be discussed on a scheduled shareholder meeting this month.

Ex-Sony Executive, a former Chief Executive Officer and Vice Chairman, Tamotsu Iba, went to Sony's executive on that same day to relay Japan's corporate governance code has finally took effect. Its aim to improve the shareholder accountability to look after and prioritize investors' interests.

Iba's letter was said to have been criticized Hirai's plans to accord Sony units more independence when it comes to decision-making. Also included in Iba's letter is his suggestion to the company for it to consider issuing class shares - this is a similar plan with Toyota Motor Corp that is in a goal to secure long-term funds. Iba deplored the lack of innovation and express that it is contrary to what the brand appeal is at the first place.

On June 23, the said Sony Corp shareholder meeting will be held. Though Iba's intention is good, other critics say that Iba's part is somehow "old" and belong to the "old boys" network - it is the influential former executives of the firm who took part in delivering out Hirai's predecessor, Howard Stringer.

Investors might take a look on what Iba is pointing out and some can appease that he indeed has a point. But, nonetheless, Iba's criticism of Hirai and his management and how he does everything for Sony Corp under his knowledge and control is unlikely to get adherence. This is because of Sony stocks have been reportedly doubled over the past year of Hiari's management amidst his restructuring.