Sony Exec Change Prompts Sale Speculation

Sony Corporation saw its stock price surge yesterday with the news that Chief Executive Kaz Hirai is stepping down and will be succeeded by Chief Financial Officer Kenichiro Yoshida.

This changing of the guard has been seen as a signal that Sony might do a 20th Century Fox and potentially sell off its entertainment assets to refocus on their core consumer base (in Sony’s case home electronics).

Insiders at the studio say there’s been no discussion of a sale and the company plans to: “continue to look for opportunities to grow its film and television business”.

Hirai has been a fierce advocate for Sony’s entertainment business, whereas Yoshida is more cautious and focused on numbers. He reportedly sees Sony as a technology company and “doesn’t regard any part of Sony’s business as a sacred cow.”

Source: Deadline