A barnstorming quarter – which generated a record-breaking $9.6 billion in revenue for the PlayStation division alone – has prompted some shake ups within Sony’s upper-management hierarchy. CFO Hiroki Totoki has been promoted to president, active from 1st April, which marks the beginning of the next financial year.
Potentially with a view to eventually taking the top seat, Totoki will work alongside current CEO Kenichiro Yoshida as president and COO. He’ll also continue to oversee his finance roles. Investors believe the executive offers the organisation a “steady hand”, having played a crucial role in shaping Sony’s current successful direction.
“I am obsessed with growth,” the suit said during a financial call. “When growth stagnates, you fall into a negative spiral. We have defined our company’s purpose with Yoshida’s leadership. My job is to make that a concrete project.”
Over the past few years, Sony has transitioned from a consumer electronics company to an entertainment giant, with much of its revenue now generated by businesses such as PlayStation, Sony Pictures, and Sony Music. Its next big endeavour will see it attempt to penetrate the burgeoning electric vehicles market as part of a joint venture with Honda.