Sony Names New Chief
Hoping that he can achieve for the rest of the company what he has already achieved for its games division, Sony has named Kazuo Hirai as the company's next president and CEO. He will succeed Howard Stringer, who will remain executive chairman until June, when he will become chairman of the board. The appointment was expected following Hirai's striking success in turning around Sony's Playstation business -- even as Sony's principal consumer electronics business continued to bleed red ink. Sony reportedly is planning to use the PlayStation Network, championed by Hirai, as the converging point for a network that will offer the company's games, movies, music, and other services. Sony's film division also remains healthy despite the company's overall malaise. Last year Sony Films was the third-highest-grossing studio (behind Paramount and Warner Bros.) with $1.36 billion in ticket sales.