Sony chairman and former CEO Howard Stringer to retire in June

Howard Stringer, board chairman and former CEO of Sony, will retire from the firm in June in order to pursue other opportunities such sitting on the board of companies in the "healthcare and education fields."

According to Bloomberg, Stringer announced his retirement during a speech at the Japan Society in New York yesterday, and a spokesman told the site his replacement will be decided during the June shareholders meeting.

Stringer was named CEO of Sony in 2005 and was replaced by Kazuo Hirai in April 2012.

“Howard’s achievements as CEO of Sony are innumerable; from breaking down silos and driving ‘Sony United,’ to fundamentally realigning the focus of Sony’s product development,” Hirai said regarding Stringer's retirement in a statement.

Stringer maintain his position as chairman of the American Film Institute.