Sony’s CFO, Hiroki Totoki, will be the firm’s next president

According to the restructuring, which the multinational announced today just hours before its quarterly financial report for October, Totoki, who also currently holds the position of vice president, will replace Kenichiro Yoshida, who will remain as the group’s CEO. December.

Totoki promotion is coming Strengthen Sony’s management structure with him and Yoshida as stronger figures, at a time when the tech industry is facing an increasingly competitive market and a possible global recession, and as the company seeks to expand its business into new areas such as electric vehicles. The company held a press conference regarding the personnel change at 16:00 (07:00 GMT) local time.

The presidential reshuffle, which will take effect with the start of Japan’s new fiscal year in April, will be the first in five years after Yoshida replaced Kazuo Hirai in 2018.

Totoki, 58, graduated from Waseda University with a BS in Commerce and joined Sony in 1987. There he took on finance-focused roles, including being a key figure in the founding of Sony Bank in 2001, and also led the group’s mobile phone business. In 2016, Totoki assumed the position of assistant general manager with Yoshida’s arrival, and financial director two years later.

Yoshida, 63, joined Sony in 1983 and worked predominantly in the finance department and worked for the group’s subsidiaries in the United States and Japan, including the So-net subsidiary, which he would head since 2005, before returning to the parent company. as assistant financial director in 2013. A year later, he would be appointed financial director of Sony, under the chairmanship of Hirai, with whom he was very close.