Kaz Hirai, President and CEO of Sony since 2012, is resigning his post and will be replaced by Sony CFO Kenichiro Yoshida, the company announced Thursday night.
Yoshida will assume his new role effective April 1. Hirai will transition to a chairman emeritus position.
The 57-year-old Hirai presided over Sony Entertainment CEO Michael Lynton in 2014, when the company suffered the worst cyberattack in U.S. corporate history — a hacking scandal that saw thousands of personnel records and damaging emails from executives released.
It’s unclear what immediate effect the leadership change will have on the company’s American assets — which were rumored to be up for sale last year, when Lynton stepped down and Tony Vinicquerra came on board to manage the film and TV groups.
Control of Sony Music was removed from the purview of the Sony Entertainment CEO role. That group is now managed by Rob Stringer, who recently assumed the job from longtime executive Doug Morris.
Sony has essentially rebounded after a long and troubled road back from the hack. Thanks to the blockbuster success of “Spider-Man: Homecoming,” big-screen TV and video game sales the company posted $18.2 billion in earnings last quarter. Sony Pictures specifically posted a 140 percent gain year-over-year with $68 million in operating income.
The film unit is enjoying unexpected staying power with “Jumanji: Welcome to the Jungle” — a family franchise reboot that is currently at $340 million domestic after nine weeks in release. Sony Pictures, run by Tom Rothman, also baffled industry watchers by landing the new Quentin Tarantino film following the director’s separation from the disgraced Harvey Weinstein. The project surrounds the Manson Murders and will star Margot Robbie and Leonardo DiCaprio.
A spokesperson for Vinciquerra did not immediately respond to TheWrap’s request for comment.
In a statement, Sony said it was Hirai who proposed stepping down as CEO; Sony’s Board of Directors approved the plan at a meeting held earlier Thursday.
“Ever since my appointment as President and CEO in April 2012, I have stated that my mission is to ensure Sony continues to be a company that provides customers with kando – to move them emotionally – and inspires and fulfills their curiosity,” Hirai said in a statement. “To this end, I have dedicated myself to transforming the company and enhancing its profitability, and am very proud that now, in the third and final year of our current mid-range corporate plan, we are expecting to exceed our financial targets.”
“And,” Hirai’s statement continued, “it excites me to hear more and more people enthuse that Sony is back again. As the company approaches a crucial juncture, when we will embark on a new mid-range 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 also said in his statement that Yoshida “has supported me closely since returning to Sony in December 2013, contributing extensively beyond his remit as CFO and acting as valuable confidant and business partner, as we took on the challenge of transforming Sony together.”
“As Chairman, I will of course offer my full support to Mr. Yoshida and the new management team, and do all I can to facilitate a smooth transition and ensure their future success.” Hirai’s statement concluded.
Sony Hack Attack Timeline: From First Cyberbreach and Leaks to 'The Interview' Release (Photos)
As Sony CEO Michael Lynton announces his resignation, let's look back at one of the darkest periods of his tenure: the Sony hack.
News of a massive cyberbreach at Sony Pictures began leaking out in late November. Later reports indicated the studio had been warned weeks earlier.
NOV. 24: The hacker group identified as #GOP purportedly took over computers and hijacked Twitter accounts, sending out ominous messages to Sony staff. Read more.
NOV. 25: Sony Pictures employees greeted with an ominous image on their computer screens when they tried to log in for the work week. Read more.
NOV. 28: Sony struggles to fight #GOP hackers who claim stolen data includes stars’ IDs, budget and contract figures. Read more.
NOV. 30: Investigators know North Korea is unhappy with comedy "The Interview," which makes light of an attempt to assassinate its leader Kim Jong-un. Read more.
DEC. 1: Studio has made progress in restoring critical business systems, insider says at the time. Later reports dispute this. Read more.
DEC. 1: Hack analysis: How much will this ‘nightmare’ cost? Damage to Sony’s reputation will be key in determining the cybercrime’s toll. Read more.
DEC. 1: Blogger posts a spreadsheet of the top 17 executives earning $1 million or more. Read more.
DEC. 1: North Korea denies involvement. A government official previously teased “wait and see.” Read more.
DEC. 2: Sony bosses Michael Lynton and Amy Pascal address "malicious criminal acts" in a company-wide memo to staff. Read more.
DEC. 2: Media outlets obtain spreadsheets including social security numbers and detailed performance reviews for 3,000 Sony Pictures employees. Read more.
DEC. 2: When asked if North Korea was involved, a spokesman for the communist country’s government replied, “Wait and see.” Read now.
DEC. 3: Salaries of ‘The Interview’ stars Seth Rogen and James Franco revealed in Sony hacking leak. Read more.
DEC. 4: Hollywood studios ramp up security in wake of Sony hack. Read more.
DEC. 4: North Korea reportedly denies involvement in Sony hack attack. Read more.
DEC. 4: Sylvester Stallone, Judd Apatow are among 47,000 employees compromised in latest leak. Read more.
DEC. 6: Sony Hack Attack "unparalleled," says head of cybersecurity firm. Read more.
DEC. 7: Sony hackers reportedly worked from Thailand and may have North Korean ties. Internet leaks of confidential data traced to a five-star Bangkok hotel. Read more.
DEC. 8: Sony hackers demand ‘The Interview’ pulled: "Stop immediately showing the movie of terrorism." Read more.
DEC. 8: FBI plan to hold employee cybersecurity awareness briefings on the Sony studio lot. Read more.
DEC. 8: Hackers sent top Sony execs a threatening email days before the attack. Read more.
DEC. 8: Hack exposes celebrity aliases for Tom Hanks, Jude Law, Natalie Portman and more in latest leak. Read more.
DEC. 8: Hackers leak sensitive email of Sony execs Amy Pascal and Steven Mosko. Read more.
DEC. 9: Hackers reveal animated ‘Spider-Man’ comedy in the works. Read more.
DEC. 9: Heated emails between Sony Chief Amy Pascal and Scott Rudin leaked. Read more.
DEC. 10: FBI says attack so sophisticated that it would have gotten past "90 percent" of security firms. Read more.
DEC. 11: Sony hack attack theory suggests North Korea was involved but had insider help. Read more.
DEC. 11: Amy Pascal and Scott Rudin apologize for racially insensitive remarks about President Obama. Read more.
DEC. 11: Kevin Hart responds to leaked Sony emails calling him a ‘whore.’ Read more.
DEC. 11: Hackers flash disturbing new warning on staffers’ computers. Read more.
DEC. 11: Amy Pascal talks to Sharon Waxman about whether she's so damaged she can no longer lead Sony (exclusive). Read more.
DEC. 11: Sony had evidence of server breach as early as February. Read more.
DEC. 12: Sony orders its name removed from "The Interview" marketing materials. Read more.
DEC. 12: Sony arm Crackle pulls hacker movie "The Throwaways." Read more.
DEC. 14: Sony demands media stop publishing stolen data. Read more.
DEC. 14: Producers reveal hackers stole James Bond "Spectre" script. Read more.
DEC. 15: Lawyer's letter confirms "The Interview" was the cause of hack attack. Read more.
DEC. 16: Sony hackers threaten 9/11-style attack on theaters that show "The Interview." Read more.
DEC. 16: James Franco and Seth Rogen withdraw from press interviews for "The Interview." Read more.
DEC. 16: Sony tells theaters they can pull "The Interview." Read more.
DEC. 16: Carmike theater chain drops "The Interview" after hacker terror threat. Read more.
DEC. 16: ArcLight Cinemas drops "The Interview" amid hacker threats. Read more.
DEC. 16: Sony CEO Michael Lynton's emails leaked. Read more.
DEC. 16: Former Sony employees file class-action suit against studio. Read more.
DEC. 16: Landmark Theaters cancels "Interview" New York premiere. Read more.
DEC. 17: Bow Tie Cinemas drops "The Interview." Read more.
DEC. 17: Judd Apatow says, "I am going to 'The Interview.'" Read more.
DEC. 17: Rosie O'Donnell says she will not see "The Interview." Read more.
DEC. 17: Five major theater chains pull "The Interview." Read more.
DEC. 17: Sony Pictures cancels release of "The Interview." Read more.
DEC. 17: Hollywood outraged at decision to pull "The Interview." Read more.
DEC. 17: Per CNN, US Government to announce North Korea was behind Sony hack. Read more.
DEC. 17: What are U.S. options if North Korea is confirmed as cyberterrorist? Read more.
DEC. 17: Steve Carell’s North Korea movie "Pyongyang" canceled in wake of Sony hack. Read more.
DEC. 17: Rob Lowe, Judd Apatow, Michael Moore and others express their outrage on social media. Read more.
DEC. 18: Paramount thwarts plans by theaters to replace ‘The Interview’ with "Team America: World Police" Read more.
DEC. 18: Newt Gingrich, Mitt Romney, Rep. Peter King and Colin Powell weigh in on the cancelation of "The Interview. Read more.
DEC. 19: FBI officially implicates North Korea in Sony hack Attack. Read more.
DEC. 19: New Sony leak reveals 50 scripts from Michael Lynton’s inbox. Read more.
DEC. 20: North Korea denies involvement in hack attack, warns U.S and offers to join joint probe. Read more.
DEC. 20: Sony deletes "The Interview’s" social media profiles in wake of hack, movie’s cancellation. Read more.
DEC. 20: Mike Myers returns to Saturday Night Live, reprising his Dr. Evil role from “Austin Powers” to deliver some advice regarding the hack. See more.
DEC. 20: RNC chair Reince Priebus sends a letter urging the CEOs of 10 major theater chains to screen “The Interview.” Read more.
DEC. 21: President Obama insists on CNN that the Sony hack is "cyber vandalism," not "act of war." Watch more.
Dec. 21: Sony attorney says "The Interview" will be distributed despite hackers’ threats. Watch more.
DEC. 22: Security experts register doubts about North Korean involvement in hack. Read more.
DEC. 22: Sony threatens Twitter with lawsuit if additional "stolen information" appears on the service. Read more.
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As Sony CEO Michael Lynton prepares to exit, here’s TheWrap’s blow-by-blow of 2014’s devastating cyberattack on the studio
As Sony CEO Michael Lynton announces his resignation, let's look back at one of the darkest periods of his tenure: the Sony hack.
