Items tagged with Kaz Hirai

After three and a half decades, Kazuo Hirai is leaving Sony, at least in an official capacity. He will still make himself available as a Senior Advisor when called upon by Sony's management team, though by and large, his tenure at Sony is coming to an end, effective June 18, 2019, the company announced on Thursday. Born in 1960 in Tokyo, Japan, Hirai found employment at Sony at age 24 in the marketing department for the company's music division. He joined Sony's computer and video game division, Sony Computer Entertainment America, in 1995 just prior to the launch of the PlayStation and continued to rise in rank all the way to being promoted to President and CEO in 2012. He stayed in that position... Read more...
Sony's new chief executive, Kazuo Hirai, has a monumental task in front of him. He's been charged with reversing Sony's years of losses, even as problems continue to pile up in the wake of ex-CEO Howard Stringer's departure. The road back to profitability got even steeper today, with news that Standard and Poor's has slashed its long-term rating on Sony's credit to BBB+ -- two steps above junk bond status. While this has no impact on the company's existing financials, it means any future loans or financial terms Sony negotiates will likely carry higher interest rates and steeper penalties for missed deadlines. Sony's restructuring plan Like Stringer, Hirai remains resolutely committed to Sony's... Read more...