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Investing.com-- Sony Corp (TYO:6758) announced on Wednesday that President Hiroki Totoki will be appointed as Chief Executive Officer, effective April 1, 2025, as part of a broader leadership transition.
Totoki, currently President, Chief Operating Officer, and Chief Financial Officer, will succeed Kenichiro Yoshida, who will step down as CEO while remaining Chairman and a Representative Corporate Executive Officer, the company said in a statement.
The leadership change was proposed by Yoshida and unanimously approved by Sony’s board after a review by the company’s Nominating Committee, Sony (NYSE:SONY) said.
Yoshida, who has led Sony since 2018, praised Totoki’s contributions, citing his role in driving Sony’s growth strategies, including investments in content intellectual property and semiconductors.
“Based on Hiroki Totoki’s contributions to Sony, including his achievements since being appointed as President and COO in April 2023, I proposed to them that he succeed me as CEO this April,” Yoshida said in a statement.
Totoki, 59, said he was “honored and humbled” by the appointment and vowed to build on the company’s successes.
Alongside the CEO change, Sony is restructuring its leadership by introducing "Business CEOs" for its key divisions.
The company also announced other executive appointments, including Toshimoto Mitomo as Chief Strategy Officer and Lin Tao as Chief Financial Officer.
The management shift comes as Sony navigates challenges in its key gaming, entertainment, and semiconductor businesses, while facing intensifying competition in artificial intelligence and digital content.