CORPORATION (NYSE:SNE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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CORPORATION (NYSE:SNE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Certain Officers and Appointment of Certain Officers

On December 12, 2016, Stanley J. Sutula III, Vice President and Controller, resigned his position effective January 20, 2017 to undertake a position as Chief Financial Officer at another public company. On December 13, 2016, the IBM Board elected Robert F. Del Bene, 57, to become Vice President and Controller effective January 21, 2017.

Mr. Sutula will continue to serve as Vice President and Controller until January 20, 2017, during which time IBM expects to close its books for 2016 and report the Company’s fourth-quarter and full-year earnings for 2016. The Company thanks Mr. Sutula for his service to IBM, including his many years in senior finance positions, and wishes him well in his future endeavors.

Mr. Del Bene is currently General Manager, IBM Global Financing and previously served as IBM’s Treasurer. Mr. Del Bene joined the Company in 1981 and has also served as the senior finance executive for various IBM business units including Global Services and Sales & Distribution.

No compensation decisions were made in connection with either Mr. Sutula’s resignation or Mr. Del Bene’s election.

As reflected in the Company’s Proxy Statement, the Company may have employees who are related to executive officers or directors. Mr. Del Bene’s wife is employed as an executive of the company, and his daughter is employed in a non-executive position. Neither of them are executive officers of IBM and each is expected to receive compensation in 2016 between $120,000 and $300,000. Additionally, Mr. Del Bene’s wife received an equity grant in 2016. Their compensation, equity grant, and other terms of employment are determined on a basis consistent with IBM’s human resources policies.

IBM’s web site (www.ibm.com) contains a significant amount of information about IBM, including financial and other information for investors (www.ibm.com/investor/). IBM encourages investors to visit its various web sites from time to time, as information is updated and new information is posted.


About CORPORATION (NYSE:SNE)

Sony Corporation (Sony) is engaged in the development, design, manufacture and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets, as well as game consoles and software. The Company’s segments include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other. It is engaged in the production, acquisition and distribution of motion pictures and television programming and the operation of television and digital networks. It is also engaged in the development, production, manufacture and distribution of recorded music and the management and licensing of the words and music of songs. It is also engaged in various financial services businesses, including life and non-life insurance operations, through its Japanese insurance subsidiaries and banking operations through a Japanese Internet-based banking subsidiary.

CORPORATION (NYSE:SNE) Recent Trading Information

CORPORATION (NYSE:SNE) closed its last trading session down -0.71 at 28.87 with 806,192 shares trading hands.