With current company boss Howard Stringer expected to depart his post on April 1, Sony Corp. has turned to the head of its thriving computer entertainment division to helm the electronics giant and help it regain lost momentum.
More pointedly, success garnered by 51-year-old Kazuo ‘Kaz’ Hirai via the hugely popular PlayStation brand has secured him the post of president and chief executive officer following the unanimous approval of Sony’s board of directors.
Stringer (69), who has led the line at Sony since 2005, will leave his executive position in April in order to become chairman of the board.
“As challenging as times are for Sony now, were it not for the strong leadership of Sir Howard Stringer these past seven years, we would have been in a much more difficult position,” said Hirai in an official statement.
“The path we must take is clear,” he added, “to drive the growth of our core electronics businesses.”
Sony’s placement has been damaged significantly over recent years in light of global economic conditions, a resulting recession in its home market of Japan, and a persistently strong Yen.
It has also suffered through disrupted production at 10 of its local fabrications plants following the disastrous tsunami that struck the coast of Japan—plus manufacturing problems due to flooding in Thailand.