Kenichiro Yoshida as CEO, Kazuo Hirai to become Chairman
Tokyo, February 2, 2018 -- Sony
Corporation ("Sony") today announced that Kenichiro Yoshida, currently
Director, Representative Corporate Executive Officer, Executive Deputy
President and Chief Financial Officer, has been appointed as Director,
Representative Corporate Executive Officer, President and Chief
Executive Officer, effective April 1, 2018. Kazuo Hirai, currently
Director, Representative Corporate Executive Officer, President and
Chief Executive Officer, will become Director, Chairman, also effective
April 1, 2018.
The above management transition was
proposed by Mr. Hirai to the Sony Nominating Committee, and following
deliberation by the Nominating Committee, was approved by the Sony Board
of Directors at a Board meeting held earlier today.
Following this realignment, Sony
will embark on its next mid-range corporate plan starting April 1 2018,
under a new management structure led by Mr. Yoshida.
Comment from Kazuo Hirai
"Ever since my appointment as
President and CEO in April 2012, I have stated that my mission is to
ensure Sony continues to be a company that provides customers with kando
- to move them emotionally - and inspires and fulfills their curiosity.
To this end, 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. And it excites me to hear more and
more people enthuse that Sony is back again. 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.
My successor, Kenichiro Yoshida, has supported
me closely since returning to Sony in December 2013 , contributing
extensively beyond his remit as CFO and acting as valuable confidant and
business partner, as we took on the challenge of transforming Sony
together. Mr. Yoshida combines a deeply strategic mindset with a
relentless determination to achieve defined targets, and the ability to
take a global viewpoint. 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.
As Chairman, I will of course offer my full support to Mr. Yoshida and
the new management team, and do all I can to facilitate a smooth
transition and ensure their future success."
Comment from Kenichiro Yoshida
"I am very grateful to Kazuo Hirai
and the Sony Board for their trust and confidence in appointing me as
Sony President and CEO, and at the same time feel a great sense of
responsibility in taking on this vitally important role. Together with
the outstanding talent we have across the Sony Group, I will aim to
build on the business foundations established by Mr. Hirai, and execute
further reform measures that enhance our competitiveness as a global
enterprise, and enable us to realize long-term profit growth. My first
priority will be to finalize our next mid-range corporate plan starting
in April, together with our immediate business plan for the fiscal year
2018, and then move ahead swiftly with implementation. This is a hugely
exciting time at Sony as we look to our future, and together with my
management team I intend to determine the best path for us to move
forward, and devote my full effort to creating a better Sony that
captures the imagination of our many stakeholders around the world."
Comment from Osamu Nagayama, Chairman of the Board and Chair of the Nominating Committee
"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. Given these achievements, we were initially surprised by his
proposal to step down from the role of President and CEO, but over time
and following extensive further discussions we ultimately reached a
decision to respect his wishes.
The Nominating Committee had been
regularly discussing potential management succession plans, and after
receiving the proposal from Mr. Hirai, we engaged in renewed discussion,
leading to the conclusion that Mr. Yoshida would be the ideal candidate
to succeed Mr. Hirai as Sony President and CEO, and lead Sony into the
future. The Board also unanimously supported this proposal. Together
with Mr. Hirai, the Board will offer their full support to Mr. Yoshida
and his new management team, while also closely observing their progress
from a shareholder perspective."
Source: Sony
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