In a shake up that caught many by surprise, Sony chief Kaz Hirai will hand the CEO reins of the Japanese electronics conglomerate to his top lieutenant as he transitions to a new role as chairman. Kenichiro Yoshida, Sony’s chief financial officer, will now take over as president-CEO, with effect from April 1. Also Read - Sony PS5 to be restocked on July 26 in India
This new management structure was announced by Sony late last evening, y in advance of its fourth quarter 2017 earnings report. Also Read - PlayStation 5 going on a diet? Retailer leaks lightweight PS5 in works
From what Sony reveals, Hirai proposed the management transition to the Sony board’s nominating committee, and the decision was approved by the Sony board in a recently held meeting. Also Read - Xbox Series X/S could get PlayStation 5 inspired controller upgrade in future
“As the company approaches a crucial juncture, when we will embark on a new mid-range plan, I consider this to be the ideal time to pass the baton of leadership to new management, for the future of Sony and also for myself to embark on a new chapter in my life,” Hirai said in a statement.
“My successor, Kenichiro Yoshida, has supported me closely since returning to Sony in December 2013 , contributing extensively beyond his remit as CFO and acting as valuable confidant and business partner, as we took on the challenge of transforming Sony together,” Hirai said in a statement.
“Mr Yoshida combines a deeply strategic mindset with a relentless determination to achieve defined targets, and the ability to take a global viewpoint. I believe he possesses the breadth of experience and perspective, as well as the unwavering leadership qualities required to manage Sony’s diverse array of businesses, and as such is the ideal person to drive the company forward into the future. As Chairman, I will of course offer my full support to Mr Yoshida and the new management team, and do all I can to facilitate a smooth transition and ensure their future success.”