As the current President and CEO Sir Howard Stringer steps down this year in June Kaz Hirai, the head of PlayStation division will take over as the next CEO of Sony Corporation. The promotion of Kaz Hirai will take effect in April and Sir Stringer will remain as the executive chairman till June.
Kaz Hirai managed to make the PlayStation brand profitable and brought in some market share over the years even though they had a disastrous launch. Meanwhile, in an interview with WSJ he talked about the future plans of Sony. He said that they are going to make a major change in the policies and the culture of Sony Corporation. They will devise the plans centrally and direct different divisions to act upon them rather than asking them for suggestions and taking decisions which is the current system. He also warned that if such drastic changes are not put in effect now they might be in great risk later on.
Sony Corp. has had a rough Q3 in 2011 with a huge loss amounting to $1.8 billions. The new CEO is expected to turn things around and make Sony Corp. a big force to be reckoned with as it was decades ago.