Sharp Loss Widens to $5.36 Billion

After posting an annual net loss of ¥545 billion ($5.4 billion), the biggest in its 100-year history, Sharp Corp. said it plans to replace both its president and chairman after just one year in an unusually public rebuke of former management that underscores the depth of the struggling electronics maker’s problems.

Sharp said Tuesday that Executive Vice President Kozo Takahashi, 58, will replace current President Takashi Okuda, who led the company during a tumultuous year in which it scrambled to secure capital and warned about its future.

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