Molyneux To Become Non-Executive Chairman Of Sony Electronics

FASULO, OKUDA NAMED TO TOP POSTS IN COMPANY

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Dec 16, 2013, 03:30 ET

SAN DIEGO, Dec. 16, 2013 /PRNewswire/ -- Sony Corporation announced today that Phil Molyneux, current President and Chief Operating Officer of Sony Electronics Inc. in the U.S. (SEL), will become non-executive Chairman of SEL.

Michael Fasulo will be promoted to President and Toshifumi Okuda will be Deputy President of SEL. The change in leadership is scheduled to occur January 1, 2014.

"Phil Molyneux, who has ably served Sony for more than a quarter century, came to SEL in 2010 with a specific mission: to transform the business in the face of daunting, industry-wide challenges, reducing costs and streamlining operations," said Kazuo Hirai, President and Chief Executive Officer of Sony Corporation. "He accomplished those goals and laid a firm foundation for future growth. All of us at Sony are grateful for his dedicated service and passionate commitment to the employees he led for the past three-plus years."

Fasulo is currently Executive Vice President for SEL, responsible for sales and retail execution for the U.S. market. Okuda-san is currently Senior General Manager of the Global Marketing Division in the Home Entertainment and Sound Business Group of Sony Corporation, Japan.

"Mike and Okuda-san's strong backgrounds in sales and marketing will serve them well as SEL puts renewed focus on customer relations to drive expansion of our business in the United States," said Hirai. "The industry continues to be challenged by economic conditions in the US as it is elsewhere in the world, but I am confident that Mike and Okuda-san will build on the progress achieved by Phil and make SEL's future even brighter than its illustrious past."

Molyneux, who studied electromechanical engineering and computer technology, joined Sony in 1987 as a sales engineer in the United Kingdom. Before joining SEL, he helped expand Sony's semiconductor and component business in Europe followed by successful expansion of consumer electronics business during his tenure as Managing Director, Sony Central & Southeast Europe.

"I am pleased with the progress made at Sony Electronics over the past three years in terms of the transformation of the organizational capability and overall efficiency of the operation," said Molyneux. "With this new foundation in place and a new organizational structure in motion, I am confident that Sony Electronics is now on the path to long-term sustainable success. I am pleased to now assume the role of non-executive Chairman at Sony Electronics, Inc."

Fasulo, who joined Sony in 1984 as a financial analyst, has served in various leadership positions and disciplines throughout his time at Sony, including senior vice president of Consumer Sales, president of the Media Solutions Company, president of e-Solutions LLC – where he launched Sony's online business – and Chief Marketing Officer, leading the first-ever SEL integrated marketing campaign.

"I am both humbled and honored to take on this critical role, and I have strong resolve to lead Sony in the U.S. to success," said Fasulo. "I am equally inspired by Hirai-san's confidence in me, and am very excited to be leading the folks I've worked with at Sony Electronics for many years. I look forward to Okuda-san's arrival and working as one team to rejuvenate this brand I love."

"There is no doubt that U.S. is one of the most important markets for Sony," said Okuda-san. "I am very much excited to work and align with Mike and all SEL employees to make Sony regain the leadership position in this important market."

SOURCE Sony