Sony Corp. Chief Executive Kazuo Hirai, 57, will step down as head of the Tokyo-based entertainment giant in April, the company said Thursday.
Hirai, who was named CEO in 2012 to succeed Howard Stringer, will be replaced by Kenichiro Yoshida, currently the company's chief financial officer, Sony said in a brief announcement. Hirai will become Sony's chairman.
Hirai's career at Sony spans more than three decades. He first joined Sony in 1984 as a marketing executive at a joint music venture owned by CBS and Sony in Japan. He spent much of his career in the company's video game division before taking the top job.
He oversaw a tumultuous time for Sony that was marked by a crippling cyberattack against its Culver City-based movie and television studio in late 2014 that was blamed on the North Korean government.
During Hirai's tenure, the company had to dramatically refocus its electronics business to better compete with dominant players including Apple Inc. and Samsung. Sony spun off its TV set division and sold off its Vaio computer business in 2014. It also significantly scaled back its mobile phone business.
Yoshida, 58, is credited with helping Hirai return the company to financial health after years of losses. In its announcement, the company said it was Hirai's decision to step down.
"I believe he possesses the breadth of experience and perspective, as well as the unwavering leadership qualities required to manage Sony's diverse array of businesses, and as such is the ideal person to drive the company forward into the future," Hirai said in a statement.
Yoshida has served more than 30 years at Sony, spending much of his career in divisions outside the company's electronics business, including investor relations and finance, according to Bloomberg. Hirai named him CFO in 2014.
"The Board is grateful to Kazuo Hirai for his outstanding contribution over the past six years, taking leadership of the company amidst an extremely challenging business environment in 2012, and making great progress in revitalizing Sony's business," said Osamu Nagayama, Chairman of the Board at Sony in the statement.
Sony ventured into Hollywood in 1989 when it bought Columbia Pictures. There has been much speculation on whether the company will eventually sell its entertainment division, though it has denied any plans to do so.
