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Shareholders Tell Sony CEO to Step Down

If you were a CEO of a company, it's never good to hear your shareholders tell you to quit your job and let someone else take over.  

This happened to Sony CEO Howard Stringer recently. Sony's current image and future plans were topics of concern at their shareholder meeting, held, most notably, after the PSN hacking debacle. Stringer commented: "I think you see that cyber terrorism is now a global force, affecting many more companies than just Sony. If hackers can hack Citibank, the FBI and the CIA, and yesterday the video game company Electronics Arts, then it's a negative situation that governments may have to resolve."

Many services, websites and companies will be vulnerable for cyber attacks, especially if they are not well secured. Sony, a multi-billion dollar company, demonstrates a certain level of ineptitude as they deal with implementing greater security needs. Sony realigned their teams to help keep their networks secure. Despite cutting Stringer's salary 16% to help fund the company, sales of future Sony gaming devices are questionable. 

Stringer stated that over 90% of PlayStation users returned to PSN once the security issue was resolved. This was the third straight annual loss for Sony. In 2011 alone, shares are down 30%.

I highly doubt we'll be seeing Sony release PlayStation 4 without robust security measures. Things could be looking pretty bad for Sony if their customer satisfaction needs don't improve from here.


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