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Sony CEO to step down, be replaced by CFO

Sony Corp. said Feb. 2 that it will promote Kenichiro Yoshida, its current CFO and executive deputy president, to CEO and president effective April 1.

Yoshida will replace Kazuo Hirai, Sony's current CEO and president, who will become chairman on the same date.

Both Yoshida and Hirai will remain directors on the Japanese company's board.

In addition, Sony's current chief strategy officer Hiroki Totoki will succeed Yoshida as CFO, while business executive Toru Katsumoto will become executive vice president and take charge of the company's research and development platform.

Once the new management structure is in place, the consumer electronics and entertainment giant said it will kick off its next midrange corporate plan.

"My first priority will be to finalize our next midrange corporate plan starting in April, together with our immediate business plan for the fiscal year 2018, and then move ahead swiftly with implementation," Yoshida said in a statement.

Sony also said that Tomoyuki Suzuki and Masashi Imamura, two other corporate executive officers of the company, are scheduled to retire as of the annual shareholders' meeting to be held in June.