Hirai names as new Sony CEO
He is tasked with developing a new innovative strategy to reenergise the company
Kazuo Hirai has been named as the new Sony Corporation CEO, taking over from Howard Stringer, according to Reuters.
Sony is currently struggling with persistent financial losses and stalling efforts to reignite its brand.
Hirai has been with Sony for 28 years and oversaw the rise of PlayStation gaming in the USA, he will take over as CEO and president on 1st April.
Hirai was promoted to head the company's consumer products and services businesses in March 2011. The consumer products and services divisions produce the bulk of Sony's $85 billion in annual sales.
Hirai is tasked with reenergising Sony, and a chief strategy for this hinges on merging Sony's robust roster of entertainment properties, including singers Kelly Clarkson and Michael Jackson, and the Spider-Man and Men in Black film franchises, with its Vaio, Bravia and other electronics brands, in an effort to boost sales.
"The path we must take is clear," he said in a statement on Wednesday. "To drive the growth of our core electronics businesses - primarily digital imaging, smart mobile and games; to turn around the television business; and to accelerate the innovation that enables us to create new business domains."
Stringer will become chair man of the board of directors in June, Sony spokeswoman Mami Imada told Reuters. There are no plans to replace him in the chairman's role.
Sony's shares have shed nearly two-thirds of their value since Stringer took the helm as CEO and chairman in 2005 and the role of president in 2009.
Sony's shares listed in the US rose 0.6% on Wednesday while its shares in Japan closed trading about 2% lower at $17.91.