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Sharp replaces management as losses grow
2013-05-14 10:02:00| Telecompaper Headlines
(Telecompaper) Sharp has announced a change in its top management, after reporting a second year of major losses. The net loss at the Japanese electronic company swelled to JPY 545.3 billion in the year to March, from JPY 376.1 billion a year earlier. This included almost JPY 100 billion in one-time charges, to write down the value of its LCD and TV businesses, restructure its solar cell activities and take a provision for a civil lawsuit over the management of its LCD business. Sharp said its president Takashi Okuda will step down at the AGM in June and become non-executive chairman. He will be replaced by Kozo Takahashi, a 33-year veteran of the company who will also remain chief officer of the products business group.
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Category:Telecommunications