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Sony chairman and former CEO Kaz Hirai is retiring
Chairman Kazuo Hirai, who guided Sony through some difficult times over the last five years, has announced his retirement from the company. "Kaz" was appointed CEO and president of Sony back in 2012, shortly after it lost $6.4 billion in 2011. After slashing costs and refocusing the business on gaming and imaging, he brought Sony back to profitability, with the company earning $6.7 billion in fiscal 2017. Hirai stepped down from his CEO role shortly afterwards, handing the reins to CFO Kenichiro Yoshida.
Sony should be taking bigger risks at CES
I've always had a soft spot for Sony. I grew up with a Walkman cassette player and an absurd 13-inch Sony TV set hooked up to the Sega Saturn in my bedroom. But in recent years, I've grown increasingly concerned about the company's future. Yes, the PlayStation brand is strong, and its image-sensor division remains a lucrative asset. But in so many other categories, Sony is struggling. Take its smartphone business: The X line was a disappointment last year, doing little to change the sluggish sales of the Z series that came before it.
Kaz Hirai reveals 'One Sony' turnaround strategy, will cut 10,000 jobs
Freshly minted Sony CEO Kaz Hirai has revealed his plan to turn around Sony's fortunes and as rumored, it includes significant cuts. Two days ago, the company revised its projections for the 2011 fiscal year to reflect a $6.4 billion loss. The One Sony plan includes reducing headcount by 10,000 in the 2012 financial year, a number that also reflects jobs leaving Sony as businesses are sold or otherwise reorganized, and will cost it 75 billion yen ($926 million) during 2012. Currently, the plan is to focus on digital imaging, gaming and mobile for growth, until those three make up 70 percent of its total sales in 2014. As far as its beleaguered HDTV business, it's going forward with the plans announced during CES to streamline the product line, reduce its costs, and return to profitability by 2014. Looking forward, there's slightly fuzzier promises to "develop and commercialize" OLED and Crystal LED technology. Beyond those the idea is to expand in emerging markets, as well as medical and 4K related technologies. There's more details in the press release after the break and presentation slides linked below, we'll let you know if there's any more information revealed on a conference call later on today.
Sony to cut 10,000 jobs and slash bonuses, says Japanese newspaper
There have been some major adjustments at Sony HQ already, but Japanese business sheet Nikkei reckons they're nothing compared to what's on the horizon. It reports that, come an announcement on April 12th, Kaz Hirai will reveal plans to clear out 10,000 jobs by the end of this year -- that's six percent of his workforce. The paper also says that seven execs, including chairman Howard Stringer, could be asked to forgo their bonuses, as the company concedes a $3.2 billion loss for 2011. It's a just a single report and it's entirely possible that none of this will happen, but merely the hint of such austerity could perhaps serve Hirai's interests, even if he ends up being less drastic when Thursday comes around.
Michael Lynton becomes CEO of Sony America, Nicole Seligman picked for SCA president
Plenty of moving and shaking going on after the bell today. Hot on the heels of news that RIM's CEO is making major internal changes, in flies word that Michael Lynton has been selected as the CEO of Sony Corp. America. He's coming over from Sony Pictures Entertainment, where he previously sat as the Chairman and CEO. Effective June 27th, Lynton will have a few new reports as well, and unsurprisingly, Sir Howard Stringer is more than encouraged by the move.Stringer stated: "Lynton is an incredibly accomplished executive who has distinguished himself in at least three different fields -- entertainment, technology and publishing." In related news, Nicole Seligman has been appointed SCA President; we're told that Lynton will be overseeing Sony's entertainment businesses (including SME, Sony / ATV Music Publishing and SPE), while Seligman will have responsibility for Sony's U.S. headquarters operations. Hard to foresee what two relatively new names mean for the consumer side of Sony's business, but we'll be keeping a close eye on their first hundred days, for sure. The full release is after the break.
Sony gets a Kaz-style kick to its corporate guts, emphasizes its oneness
Kazuo Hirai doesn't officially grab the reins as Sony's CEO and President until April 1st, but in reality he's already at the stirrups. He's making a number of exec-level switches that he hopes will deliver "rapid and optimized decision-making processes as 'One Sony'." His strategy? An inner circle consisting of himself and fellow reformers -- such as CFO Masaru Kato -- who will engage with department heads and, you know, make 'em do stuff faster. Digital imaging, gaming and mobile will be considered pillars of the electronics business and receive more "concentrated" resources as a result. Meanwhile, Kaz will directly oversee the struggling TV business in an effort to turn it around, which means his days of enjoying life and staring out of windows are probably numbered. See the press release for more tectonic detail.
Sony confirms Kazuo Hirai as new President and CEO, replacing Howard Stringer
Sony has just confirmed Kazuo Hirai as its new CEO and President, validating rumors that have been swirling for a few weeks now. Outgoing CEO Howard Stringer, meanwhile, has been appointed Chairman of Sony's Board of Directors. The Hirai era officially begins April 1st, while Stringer will assume his new role sometime in June (until then, he'll remain executive chairman). Today's announcement, coming a day before Sony's earnings call, brings an end to more than a year's worth of speculation, though Hirai's selection hardly comes as a surprise, considering his recent string of promotions. In April, he was named Executive Deputy President; five months later, he was promoted to Sony Computer Entertainment Chairman. According to Stringer, in fact, Sony has been grooming Hirai since as early as 2009, when the Board began designing its succession plans. Kaz, he says, stood out from the crowd: Kaz is a globally focused executive for whom technology and the cloud are familiar territory, content is highly valued, and digital transformation is second nature. I believe his tough-mindedness and leadership skills will be of great benefit to the company and its customers in the months and years ahead. I look forward to helping Kaz in every way I can so that succession leads inevitably to success. It was my honor to recommend him to the Board for the positions of President and CEO, because he is ready to lead, and the time to make this change is now. Kaz, for his part, acknowledges that Sony is going through some "challenging" times at this juncture, but credits Stringer with steadying the ship, and seems clear-minded about the future. "The path we must take is clear: to drive the growth of our core electronics businesses - primarily digital imaging, smart mobile and game; to turn around the television business; and to accelerate the innovation that enables us to create new business domains," the 51-year-old PSN architect explained. "The foundations are now firmly in place for the new management team and me to fully leverage Sony's diverse electronics product portfolio, in conjunction with our rich entertainment assets and growing array of networked services, to engage with our customers around the world in new and exciting ways." Click past the break for Sony's full press release.
Kaz Hirai: Sony is 'in discussions with non-Sony companies' over PlayStation Suite
Wondering whether Sony's PlayStation Suite will ever really leave its nest? While the SDK won't be out until next month, SCE Chairman Kaz Hirai just told us here at AsiaD that this Android-friendly framework's still open to all other manufacturers, and he emphasized that it "isn't an ecosystem where we want to keep everything within the Sony family" while pimping the three PlayStation Certified Android devices so far: Xperia Play, Tablet S and Tablet P. Kaz also confirmed that Sony's currently "in discussions with non-Sony companies to bring them onboard," but as to when this will come to fruition, the company will make those announcements "when it's time to go public with it," so we shall see.
Sony's Kazuo Hirai: liveblog from AsiaD!
We're back! AsiaD's concluding today, but we've got a couple of big hitters left on the schedule. Kicking things off this morning -- yeah, it's morning, we're in the future -- is Sony's Executive Deputy President, Kazuo Hirai, and we're guessing he'll be shooting it straight regarding the PS Vita, those nasty "outages" and whatever else he feels like keeping us abreast on. Join us after the break for the blow-by-blow!
Live from Sony IFA 2011 press event
What better way to kick this year's IFA conference in beautiful Berlin, Germany than a good old fashioned Sony press conference? We're getting ready to get things started here, so sit down, grab a beverage and reach for those 3D glasses to read along at home [note: this liveblog is not in 3D]. Photos by Zach Honig.
Kaz Hirai to become Sony Computer Entertainment Chairman, leave Andrew House with tough CEO gig
When you've had to deal out as many public apologies as Sony has had to perform over its protracted PSN hacking saga, the typical expectation is that someone somewhere will be getting fired or "reshuffled" into a new post. No firings at PlayStation headquarters, however our old pal Kaz Hirai is getting a new position as Sony Computer Entertainment Chairman, with Andrew House succeeding him in the CEO hot seat. Mr. House was previously Sony's PlayStation chief in Europe, so he's simply stepping up to be responsible for the company's global operations, but Kaz's new duties are less clearly defined. Both changes will go into effect on September 1st, a day after current Chairman Akira Sato retires, giving both Kaz and Andrew a little time to get accustomed to their new(ish) surroundings before tackling Sony's massively important PS Vita launch at the tail end of the year.
Sony responds to Congress: all 77 million PSN accounts compromised, finger pointed at Anonymous
We've heard Sony explain itself at length regarding the gigantic PlayStation Network breach, but this might be the most useful version of the story yet -- it's the one that Sony's Kaz Hirai is forwarding to US Congress members concerned about your personal information. The official PlayStation.Blog has the full English document up on Flickr for your perusal, and we'll warn you it's much the same tale -- Sony says all 77 million PSN and Qriocity accounts have had information stolen, but the company's still not sure exactly which pieces have gone missing, whether credit card numbers are compromised or not, or who could be behind the hack. Sony does say, however, that it had 12.3 million credit card numbers on file, and 5.6 million of them from the US, and that investigators found a file on one of the servers named "Anonymous" with the words "We are Legion" inside it. Hard to draw many conclusions from that. Update: Anonymous has apparently responded saying it "has never been known to have engaged in credit card theft."
Sony's Kaz Hirai consolidates power as likely CEO successor to Howard Stringer
Sony's in the midst of yet another realignment this morning. Most notable is the promotion of Kazuo "Kaz" Hirai to Representative Corporate Executive Officer and Executive Deputy President, effective as of April 1st. The change in title also carries new responsibilities for Sony's Consumer Products & Services Group putting Kaz in charge of all of Sony's consumer electronics businesses including TV, audio / video, imaging, PC, gaming, and mobile in addition to overseeing Sony's global sales and marketing, common software platforms, and design operations. The move makes Kaz the number one candidate to replace Howard Stringer, the 69 year old boss from Wales, who is expected to step down in 2013.
Sony's Kaz Hirai discusses NGP strategy, longevity, expectations (video)
Why was the NGP announced so far ahead of its launch? How long does Sony expect the NGP to reign before a refresh is needed? What impact will the NGP have on Nintendo's supremacy in mobile gaming? Each of those questions has been handled by Sony Computer Entertainment's chief Kaz Hirai in a video interview you can now eyeball after the break. In case you want the textual version of his responses, Kaz says the PSP successor was unveiled early in order to allow Sony to get as many third-party developers on board as possible (which is a lot easier when you don't have to worry about them leaking your hardware to Engadget), the new mobile console's lifetime should be no less than what we've come to expect from Sony's home consoles (so at least four or five years), and Sony's weapons for attacking Nintendo's dominance will be the litany of integrated sensors and connectivity options at the NGP's disposal. Kaz is careful to note that Sony is only aiming to improve on the PSP's current install base, but we suspect Sony's unofficial ambitions are far higher than that.
Sony's PS3 movie download service rolling out Stateside this summer
Sony just released a rambling update to it corporate strategy through fiscal year 2010. An interesting read for fans and competitors alike as Sony lays bare initiatives intent on moving Sony from recovery to the "leading global provider of networked consumer electronics and entertainment." Most notable in the near-term however, is word from Kazuo Hirai, chieftain of Sony Computer Entertainment, that Sony will make a movie download service available to US PlayStation 3 owners this summer -- Japan and Europe at later dates with details coming "next month," presumably at E3. Moreover, Sony expects its gaming business to achieve profitability by March 2009, the end of the current fiscal year. Of course, we already knew that Sony was prepped to deliver full-length TV shows and movies sometime in 2008 via its North American PLAYSTATION Network. But summer, eh? Judging by the increased molecular agitation of sidewalk effluence, we'd say that Sony's season of movie downloads is already upon us. Read -- 2010 plan Read -- US summer launch
PlayStation Home beta adding more users this Fall -- in other words, delayed
After hitting delays already, we can't say that this was the PlayStation Home press release we've been expecting. Nevertheless, Sony just announced that it is expanding the closed PlayStation Home beta to more users in "Fall 2008." Kazuo Hirai, prez and ringmaster of Sony Computer Entertainment, said, "We understand that we are asking PS3 and prospective PS3 users to wait a bit longer, but we have come to the conclusion that we need more time to refine the service." Come on Mr Hirai, you can say it, PlayStation Home is delayed. See, that's wasn't so hard.