Sony Corp. Chairman Kazuo Hirai, the architect of a turnaround at the once-dominant electronics giant, will retire in June after spending more than three decades at the company.
The 58-year-old, who ceded the role of chief executive officer to Kenichiro Yoshida in April 2018, will continue to advise the company after his retirement, Sony said in a statement. Shuzo Sumi of Tokio Marine Holdings Inc. was nominated to become chairman of the board.
Hirai, who took over as CEO from Howard Stringer in 2012, turned the company's fortunes around by paring back and refocusing its operations. With Yoshida's support, Hirai sold off the Vaio personal computer business, reshaped the television set unit and pulled the mobile business back from a destructive fight for market share. He also invested heavily in the PlayStation games business and image sensors used in smartphones, now major drivers of the firm. Profits hit a record last year as he ceded the CEO role.