Kazuo Hirai Set to Step Down From His Post as Chief Executive of Sony

By Masaru Kamikura [CC BY 2.0] via Wikimedia Commons

Today, Sony announced that Kazuo Hirai, the chief executive of the company, is stepping down, and will be replaced by the chief financial officer of the firm.

Kenichiro Yoshida is set to take up his new role as chief executive on the 1st of April, while Hirai will become the chairman of Sony.

Hirai stated: “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.”

The shares of Sony were up by 1.86 percent on the Topix index on Thursday evening.

An overhaul of Sony was spearheaded by Hirai when he was appointed as the boss of the company in 2012.  The firm has been suffering from enormous losses, and Hirai was urged to sell some assets and dismiss thousands of jobs.