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All eyes are on Sony’s incoming CEO. Kazuo Hirai will take over the top job in just a couple of months and he's faced with the challenge of getting the company back to profitability.
Let’s take a closer look at the man tasked with saving Sony. He’s done it before, when he rescued the firm’s ailing Playstation business but can he do it again, on a bigger stage? This is Kazuo Hirai, the man who takes over as Sony’s CEO from April.
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Judging from the firm’s latest earnings, Hirai has a daunting task ahead.
Sony lost $1.2 billion in the previous quarter, a key holiday shopping period when most firms enjoy their best sales.
It also revised its full year forecast from a small profit to a staggering $3 billion net loss. Hirai is pledging to move fast to stop the rot.
Kazuo Hirai said: "There will be situations in which we will be required to choose, make a decision, or implement very painful issues that cannot be avoided for the future of Sony. But we can’t take a step forward if we are afraid of this."
With Sony heading into a fourth straight year of losses, analysts say there will be no honeymoon period for him. Hirai already heads Sony’s consumer products and services businesses, which produce most of Sony’s $85 billion in annual sales.
But his challenge will be integrating diverse product lines, including entertainment franchises like singer Kelly Clarkson and "Spider-Man" movies, with its tablets, laptops, TVs and smartphones to boost sales.
Outgoing CEO Howard Stringer is confident his successor is up to the task. He said: "The first step was reorganizing the top management to bring in a new generation of young globally focused executives for whom the cloud is familiar territory and digital transformation is second nature. I believed my ultimate successor was among them and I was right. Why now? Because he’s ready." |