(RTTNews) - Japanese Conglomerate Sony Group Corp. (SONY) Wednesday announced the appointment of Hiroki Totoki as Chief Executive Officer, with effect from April 1.
Totoki succeeds Kenichiro Yoshida, who will continue to be the Chairman of the company.
According to the statement, Sony is adopting a new management structure to support its long-term growth.
Further, Lin Tao has been appointed as Chief Financial Officer.
Totoki, who joined the company in 1985, is currently a Director, President, COO, and CFO. He will now take over as Director, President, and CEO.
Further, Toshimoto Mitomo, currently Executive Deputy President and CSO, Corporate Executive Officer, will be CSO and Representative Corporate Executive Officer.
Under the new management structure, the heads of Sony's major businesses will be called "Business CEOs."
In Tokyo, Sony shares gained 3.78 percent on Wednesday's regular trading, to close at 3,484.00 yen.
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