Kazuo Hirai, the former head of Sony's game division and now Sony Corp's new CEO, has come up with a new revival plan for the struggling electronics company. Kazuo Hirai’s turnaround plan already has won shareholder approval, but aggravated investors were not averse to grilling the new chief executive and wanted him to explain his strategy in detail.

At the company's annual meeting in Tokyo, board members demanded to know about his plans to revive Sony’s glorious past and many shareholders also got agitated. In fact, one shareholder just started shouting at Hirai and didn’t think twice before venting out his frustrations. Another contentious issue was the non-firing of Howard Stringer who Hirai replaced. Stringer is now the chairman of Sony Corp, a move that has not been welcomed by the shareholders, given the company’s dreadful performance under his seven year tenure. A record 9,303 shareholders assembled at a hotel in Tokyo to hear Hirai chair his first annual meeting and had no qualms heckling Stringer, who blamed Japan's 2011 earthquake and production-disrupting floods in Thailand for the loss.

When questioned by a shareholder why Sony was keeping Stringer and vice chairman Ryoji Chubachi on the board after such a substantial loss, Hirai said he "needed the advice and support of Stringer and Chubachi."

Hiral also stayed mum on the rumors that Sony is planning to invest 50 billion yen in endoscope maker Olympus Corp. "We are not at the stage where we can comment," Hirai said, neither confirming nor denying the report.

Kazuo Hirai’s plan is based around revamping the mobile devices, gaming and digital imaging and also planning new businesses, including a medical unit. Hirai hopes to expand group sales by a third to 8.5 trillion yen in two years with an operating margin of more than five percent and wants to triple online gaming network sales by March 2015.

Sony's market value at Tuesday's closing price was USD 13.9 billion, which is quite disappointing when compared to arch-rival Samsung (News - Alert) Electronics’ USD 158 billion.

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