Sony CEO Kazuo Hirai to Step Down

Sony Corp’s new President and Chief Executive Officer Kazuo Hirai attends a news conference at the company’s headquarters in Tokyo in this April 12, 2012 file photo. Sony Corp CEO Hirai has spent $1.8 billion in the past three months snapping up an assortment of businesses such as medical equipment and cloud gaming, leaving investors to worry he is blowing his firm’s waning finances on a muddled plan to revive the fading giant. Hirai, a Sony veteran of nearly three decades, took over the top spot in April 2012 pledging to reshape the once-stellar brand around the pillars of gaming, digital imaging and mobile devices. Since his promotion, the company’s stock market value has fallen by around $8 billion. REUTERS/Yuriko Nakao/Files

Sony’s chief executive Kazuo Hirai is stepping down and handing the reins over to finance chief Kenichiro Yoshida.

Mr Yoshida, Sony’s chief financial officer, is to take over control of the Japanese electronics giant from 1 April.

Mr Hirai will remain at Sony as chairman.

Mr Yoshida and Mr Hirai have been instrumental in turning Sony around to focus on smartphone image sensors.

Under their efforts, the Japanese electronic giant sold off its struggling PC business and launched the successful PlayStation 4 video game console, which has sold more than 60 million units to date.

Click here to read more.

SOURCE: BBC News