Sony's shareholders have approved Howard Stringer as new CEO.

Born in Wales, Stringer is the first foreigner to head the company. He replaces Nobuyuki Idei.

During the two-hour meeting, Stringer and other executives were questioned by investors who wondered how Sony could stage a comeback at a time when its stock price has plunged to less than half of what it was five years ago, reports Associated Press.

Stringer said he plans to engineer Sony's revival and work to deliver global stature to the company despite being a foreigner. He said: "I am first and foremost a Sony warrior. This is our destiny, and this is our responsibility."

Analysts indicate that although the price of consumer electronics products is falling the company must not rely on cost cuts as a strategy for growth, noting that Sony must continue to spend more on research to keep its technological edge.

Standard & Poor's analyst John Yang said: "It's hard to keep spending to keep that Sony premium. Stringer has a lot to do - to say the least."