Kaz Hirai to end six-year Sony reign on high note

Kazuo Hirai looks set to end his six-year reign at Sony Corp. on a high note. The electronics giant said Friday its president and chief executive officer credited for turning around the once-struggling company will assume chairmanship and be replaced by his right-hand man. The announcement came as Sony posted a nearly fourfold jump in third quarter operating profit and raised its full year profit to a record high, underscoring how a restructuring drive led by Hirai, focusing on image sensors and gaming, is reaping rewards. Effective April 1, Chief Financial Officer Kenichiro Yoshida, who alongside Hirai worked to steer Sony back to profitability after years of losses, will take on the role of CEO. "I have been pondering about when to step down and decided this to be the ideal timing, both for Sony and myself, as the company prepares to embark on a new mid-range plan," Hirai said at the company's headquarters in Tokyo.