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Sony to appoint Kazuo Hirai as president?

By
Kaz Hirai, Executive Deputy President of Sony Corporation

© Sony

Sony is rumoured to be appointing Kazuo Hirai as its new president.

The current vice president could be in line to replace Howard Stringer as early as April, according to Japan's Nikkei newspaper (via Reuters).

Hirai's promotion is expected to be announced during next month's board meeting. The appointment has been on the cards for some time, as the executive has helmed the company's highly profitable consumer products and services division since last March.

"They've already signalled Kaz (Hirai) is the heir apparent so this is just more of a continuation of that. There's certainly a lot of challenges at Sony but the Street likes him," said Hudson Square analyst Dan Ernst.

Sony's shares have fallen by almost 60 percent since Stringer was appointed president in 2005. He is to remain chairman and CEO following Hirai's move.

Hirai's appointment as Sony president is expected to be finalised next month.

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