Tag: Corporate - Page 2
News Disney Dumps LucasArts in a Galaxy Far, Far Away
Star Wars 1313's fate not looking good
Disney’s questionable treatment of non-Star Wars: Episode VII content has continued today with the closure of legendary video game arm LucasArts. Following the Mickey Mouse marker's acquisition of LucasFilm along with its various subsidiaries late last year, the company has opted to shutter a large portion of...
News Yoichi Wada Exits Square Enix Following 'Extraordinary Loss'
Final Fantasy maker down on its luck
John Riccitiello is not the only high-profile video game executive to be heading for the exit door, as Square Enix gaffer Yoichi Wada has been ousted from the company following a dire financial forecast for its current fiscal year. The outgoing boss had been in the job since 2000, but he’ll now be replaced by...
News John Riccitiello Steps Down from His Post as EA CEO
Under fire executive resigns
Electronic Arts CEO John Riccitiello has submitted his resignation to a boardroom of (presumably) stern-looking directors. The executive’s final day will be on 30th March, the close of the company’s fiscal year. After that, he’ll be forced to pack up his ballpoint pens and Commander Shepard figurines, and leave the...
News Former Sony CEO Howard Stringer to Retire in June
Brave new world
Sony chairman and former chief executive officer Howard Stringer has announced that he will retire from his position within the firm in June. The Welsh businessman announced his departure as part of a speech at the Japan Society in New York City last week, where he revealed that he will turn his attention to the healthcare and...
News Microsoft: PlayStation 3 Doesn't Do Entertainment As Well As Xbox 360
Everyone knows it, apparently
Microsoft must be starting to feel threatened. The company has already predicted that mainstream consumers "won't know” about PlayStation’s upcoming next generation console announcement, and now it’s insinuated that the PS3 is a poor choice for entertainment options – despite it being
News Ex-Microsoft Executive Details Heated Relationship with Sony
Furrowed brows
Xbox only exists because of Microsoft and Sony’s heated relationship. That’s according to former executive Joachim Kempin, who was vice president of Windows Sales at the firm. Chatting with IGN, the outspoken suit explained that the computing company wanted to tackle PlayStation head-on due to the bad blood between the...
News Sony Selling Its New York Headquarters for $1.1 Billion
Chunk of change
In a move that has seen the company’s share prices surge by a whopping 12 per cent, Sony has announced that it has agreed to sell its New York headquarters to the Chetrit Group for a whopping $1.1 billion. The electronics manufacturer will continue to operate out of the 37-story building for the next three years, after which it...
News Sony's Stocks Downgraded to 'Junk' By Credit Ratings Agency
Make believe?
Credit ratings agency Fitch has downgraded Sony’s stocks to ‘junk’ status, according to a report by the Financial Times. The firm dropped the conglomerate’s investment-grade score to BB-, indicating that the company is vulnerable to defaulting on debt. Fellow manufacturer Panasonic was reduced to BBB-. “This wasn't an easy...
News Sony Is Slashing 2,000 Jobs in Japan
Cost cutting
Sony has announced that it will cut 2,000 jobs in Japan via an “early retirement” scheme. The Next Web notes that the cuts are set to affect the company’s head office the hardest, with 20 per cent of employees set to depart by the end of the year. The move will apparently save the manufacturer a whopping ¥30 billion (roughly $378...
News Kaz Hirai's Custom PS3 Will Probably Make You Jealous
Parting gifts
Earlier this week, new Sony president Kaz Hirai formally announced his departure from the SCE board. In order to celebrate his services to the division, the company held a leaving party for the busy executive in Japan earlier this afternoon. At the event, Hirai was presented with a bouquet of flowers and a custom PlayStation 3...
News Andrew House Stresses the Importance of United Sony
Sticking together
Sony is not in a good position. While core elements of its business – including the PlayStation division – are ticking over nicely, the company as a whole is bleeding money. The worry for Sony is that it’s been struggling for a while. But while the company's situation is becoming all too familiar from the outside, key...
News Kaz Hirai Drops Sony Computer Entertainment Chairman Role
Bigger fish to fry
New Sony president Kaz Hirai is a busy man. The former Sony Computer Entertainment gaffer has been handed the daunting task of turning the troubled Japanese manufacturer’s fortunes around. As such, the likable executive has decided to step away from his role as chairman on the SCE board. He will still serve in a part time...
News thatgamecompany Raises $5.5 Million, Goes Fully Independent
Travelling alone
Journey developer thatgamecompany has announced that it has raised $5.5 million in funding – allowing it to cut its ties with Sony, and go fully independent for the first time since its formation. Earlier in the year, we revealed that the creative studio was looking to move beyond PlayStation. Speaking specifically about the...
News Sony Executives Take Pay Cuts, Return Bonuses
Trying times
While the PlayStation business is doing reasonably well for Sony, the Japanese giant is not in great shape overall. New CEO Kaz Hirai has promised to return the company to profitability over the next 12 months, but on the back of four straight losses, the executive has been forced to take a pay cut. The cut will affect the...
News Starbreeze to Acquire Payday: The Heist Developer
Hostile takeover?
The real world of business is nothing like Starbreeze’s Syndicate – if it was, Overkill Software would probably find itself six-feet under by now. But thankfully for the Payday: The Heist developer, that’s not quite how takeovers work in 2012. Instead, Starbreeze has announced its intention to acquire the Stockholm-based...
News Kaz Hirai Reveals "One Sony" Rescue Strategy
Promises change
As promised, former PlayStation president and new Sony CEO Kaz Hirai has revealed his rescue strategy designed to resurrect the ailing Japanese giant. The likable executive’s speech hinged on the idea of change and unification – something Sony has been striving towards with little success for years. In his presentation, Hirai...
News Sony Preparing for Biggest Annual Loss in a Decade
The numbers aren't red enough
We find it hard to believe there’s been a smile on new Sony CEO Kaz Hirai’s face since he started his new high-power role just over a week ago. One look at the company’s balance sheet would be enough to plant a permanent frown on even the most jubilant of personalities. Indeed, Sony has warned investors today...
Rumour Sony to Cut 10,000 Jobs Before Year's End
Hirai making his mark
Sony’s financial troubles are well documented. If you’re not up to speed, then know this: the company is expected to report a whopping £2.1billion loss in its latest financial report. That’s not particularly healthy. Of course, that’s also the reason that former SCE president – and lifetime Ridge Racer fanboy – Kaz...
News Take-Two: "THQ Won't Be Around in Six Months"
Laying it bare
Take-Two CEO Strauss Zelnick doesn’t foresee much longevity for troubled publisher THQ – the gaffer told an audience at the MIT Business in Gaming Conference that he believes the firm will be fully shuttered in six months time. Zelnick expanded that he believes the publisher’s biggest mistake was working with licensed...
News Kaz Hirai to Reveal Sony Rescue Strategy This Month
No time for jokes
Expect to see the hairs on newly appointed Sony CEO Kaz Hirai’s head gently transition to a subtle shade of silver over the coming months. The fresh faced executive has announced a conference for 12th April where he’s expected to reveal his strategy to turn the troubled Japanese manufacturer around. With Sony predicted to lose...
News Kaz Hirai Takes The Big Job At Sony, Officially This Time
Long-time Ridge Racer fan, Kaz Hirai, has been promoted to president and CEO of Sony Corp, the company announced this morning
He'll take over from Sir Howard Stringer — who will stay on as executive chairman until June — when the new roles come into effect on April 1st. Hirai's a long-time Sony employee, having cut his teeth in the...
News Sony Denies Kaz Hirai Promotion Reports, Says 'Nothing Has Been Determined'
Sony's affable executive, Kaz Hirai, might be around for a few more rounds of Ridge Racer just yet
Following reports that the cheery gaffer had been promoted to presidential status, the Japanese company has released a statement refuting the claims — stating that "nothing has been determined at this time". Given the comment's wording —...
Report Scott Steinberg And Rob Dyer Leave Sony
Seems like there's some major reshuffling going on at SCEA at the moment
With Peter Dille's office barely cold after his departure earlier in the year, Sony's lost another two executives according a report published by Industry Gamers. The site claims that VP of marketing, Scott Steinberg, and senior VP of public relations, Rob Dyer, are both no...
News Hideo Kojima Scores Top Job At Konami
Konami's promoted legendary developer, Hideo Kojima, to the rank of corporate officer a press release has confirmed
The promotion makes Kojima one of the top bodies at the publisher, and rightly so. Kojima's been behind some of the best games throughout the PlayStation's lifespan, including the Metal Gear Solid and Zone Of The Enders titles...
News Kaz Hirai Takes One Step Closer To The Ultimate Job At Sony
PlayStation's boss, Kazuo Hirai, has been promoted to executive deputy president at Sony, and is reportedly inches away from taking the top role at the company
A report on Reuters notes that the current head of Sony's network products and services division (which includes the PlayStation business) will take up his new position on April 1st. The new...
