Sony Corporation released a statement that their CEO Kazuo Hirai will be stepping down from his position and will become the Director, Chairman. The change in hierarchy was proposed by Hirai himself, and later approved by the Sony Board of Directors. Hirai’s last day as Sony’s CEO will be March 31st of this year where the new CEO will takeover April 1. The Tokyo based tech giant announced these new management plans on Friday.
Hirai’s successor will be Kenichiro Yoshida who is currently Sony’s Director, Representative Corporate Executive Officer, Executive Deputy President and Chief Financial Officer.
“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,” said Hirai in a statement. “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.”
Back in October, it was reported that Sony’s profits went up 346 percent thanks to solid sales of the Playstation console. CNBC reported that the electronics giant expects operating income for the year ending March 31 would be the highest ever profit for the company since its record-breaking year in 1998.
With Sony still after all these years maintaining their high profitability, their new CEO looks to continue these efforts starting in April.
“I am very grateful to Kazuo Hirai and the Sony Board for their trust and confidence in appointing me as Sony President and CEO,” said Yoshida in a statement. “Together with the outstanding talent we have across the Sony Group, I will aim to build on the business foundations established by Mr. Hirai, and execute further reform measures that enhance our competitiveness as a global enterprise, and enable us to realize long-term profit growth.”