Sony are to promote Kazuo Hirai, currently the Executive Vice President, Officer in charge of Networked Products & Services Group of Sony Corporation, to head of their Consumer Products division, which accounts for 60% of their revenue.
Sony's operating profit more than doubled in its network products and services division in October-December last year, but was outweighed by losses on TVs, resulting in a fall in Sony's overall profit.
"It's a sign that Sony has exited the crisis mode that it's been in since the Lehman shock. It can now move on from talk of restructuring to growth," said Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management Co Ltd.
Howard Stringer, CEO of Sony said, "The board and I have talked about succession planning and this is the first step. We have not made a final decision. This is an opportunity for the board to watch Hirai-san and judge his performance. There may be other candidates, but he has a leadership position."