Sony CEO Kaz Hirai has announced his intention to step down as of April 1.
Hirai will move to a new role as chairman of the company.
He will be succeeded by current chief financial officer Kenichiro Yoshida.
“As the company approaches a crucial juncture, when we will embark on a new mid-range [corporate] plan, I consider this to be the ideal time to pass the baton of leadership to new management, for the future of Sony and also for myself to embark on a new chapter in my life,” Hirai said.
Meanwhile, Sony announced group revenue up 11 percent to $23.6 billion in Q3 2017.