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Sharp has announced that it has made Kozo Takahashi its new president and CEO.
The Japanese company, which last week reported a loss of $5.4 billion, has said that the current executive vice president will take the president and CEO title from 25 June.
The announcement as part of a business reorganisation aimed at helping the company return to a profit in March 2014.
The company also needs to make repayments for a new loan in September.
Last week it was reported that the company was planning to axe 5,000 of its 51,000 workers over the next three years in China and Malaysia as well as halving the number of workers at its head offices and cutting its board members by half.