Sony shakes up the corporate ladder by promoting execs obsessed with growth
A barnstorming quarter — which generated a record-breaking $9.6 billion in revenue for the PlayStation division alone — has prompted some shaking up within Sony’s top-management hierarchy. CFO Hiroki Totoki has been named president, effective April 1, marking the start of the next fiscal year.
With a view to possibly eventually taking the top seat, Totoki will serve as president and COO alongside current CEO Kenichiro Yoshida. He will also continue to oversee his finance roles. Investors believe the executive offers a “steady hand” to the organization, which has been instrumental in shaping Sony’s current successful direction.
“I’m obsessed with growth,” Sue said during a financial call. “When growth stops, you get into a negative cycle. We defined our company’s mission with Yoshida’s leadership. My job is to make it a solid project.
Over the past few years, Sony has transitioned from a consumer electronics company to an entertainment giant, with the majority of its revenue now generated by businesses such as PlayStation, Sony Pictures, and Sony Music. Its next big effort will be to enter the growing electric vehicle market as part of a joint venture with Honda.
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