Kazuo Hirai Becomes the New President and CEO of Sony

The Japanese electronics giant Sony is having a tough time for last four years. The company has encountered losses year over year despite its efforts. Finally, the company has taken a bold step and announced Kazuo Hirai, former President of Consumer Products & Services Group, as its new President and CEO. He will replace Howard Stringer.

Bloomberg received an email statement from the Japanese electronics giant according to which Howard Stringer will step down from his position on April 1. Stringer, however, will remain on the board as Chairman and will take that post after the June shareholder meeting.

Sony also said in statement that it will soon release more details about its ongoing management changes on Thursday.

Hirai was an important figure when it comes to the success of Sony with its PlayStation in the United States. He became President of Sony Computer Entertainment just two weeks after the PlayStation 3 launched.

The Japanese electronics giant has been incurring losses year-over-year in its entertainment business, such as its televisions and handheld console devices. With its recent acquisition of Sony Ericsson, the company is hoping to introduce its own Android devices throughout the year to contend with Apple and Samsung in the rapidly growing smartphone market.


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