Sony CEO and president Kazuo Hirai and other head executives will retain their positions following a shareholders meeting on Thursday where investors voted on their fate.
"The best way to build our future is for Sony to remain Sony, and realize our motto to become a company that inspires and fulfills your curiosity," the Associated Press reports Hirai as saying during the meeting where the CEO promised that "the money-losing structure" will be resolved this fiscal year.
The Sony president apologized for not being more proactive with making changes to the company in the face of its ongoing losses, which, according to the AP, Sony shareholders heckled Hirai and other executives about during the meeting.
The New York Post reported in December that Sony was searching for "at least one" new director for its board as it seeks to cut costs and rejuvenate its business. The Post cited sources as saying that Sony approached several of its United States-based media executives for the position. The Japanese electronics and media company holds a board of 13 members.
Sony ended its fiscal year with a net loss of $1.26 billion. The launch of PlayStation 4 last November helped increase the company's sales and operating revenue by 14.3 percent. Its game sector recorded an operating loss of $78 million partially due to costs associated with the console's launch and a sales increase of 38.5 percent, also attributed to the system's release.
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