Kazuo Hirai is standing down as Sony CEO

Sony is getting a new CEO after it announced that CFO Kenichiro Yoshida will replace Kazuo Hirai as the head of the Japanese firm.

The move will happen April 1, with Hirai shifting to the role of Chairman.

“I have dedicated myself to transforming the company and enhancing its profitability, and am very proud that now, in the third and final year of our current mid-range corporate plan, we are expecting to exceed our financial targets,” Hirai said in a statement.

“As the company approaches a crucial juncture, when we will embark on a new mid-range plan, I consider this to be the ideal time to pass the baton of leadership to new management, for the future of Sony and also for myself to embark on a new chapter in my life,” he added.

Hirai took the CEO role in 2012 and he has worked in partnership with Yoshida to turn things around in recent years. Among its key initiatives, Sony downsized its loss-making mobile division with layoffs and a more focused set of products, while the PS4 has been a huge financial success. The firm also placed more focus on components, moved into AI, and Hirai personally oversaw the appointment of former Fox exec Tony Vinciquerra as Sony Pictures’ new CEO.

The company reveals its latest financial report today so we may get more information on its plans.

Featured Image: TechStage/Flickr UNDER A CC BY-ND 2.0 LICENSE