Sony is expected to name Kazuo Hirai as president, according to reports, removing Howard Stringer from the role.
TOKYO (TheStreet) -- Japanese technology giant Sony(:SNE) could be about to replace Sir Howard Stringer as president with consumer business chief Kazuo Hirai, according to a media report.
Reuters, via the Japanese newspaper Nikkei, said the promotion could happen as early as April. Sony CEO Sir Howard Stringer
Stringer, 69, will still remain chairman and CEO of the company, according to the report, which has heightened expectation that Hiraj be his successor.
Stringer has had a rocky time since becoming CEO in 2005. In addition to the PlayStation network security breach, the British-born executive has had to contend with an economic downturn and increasing competition from the likes of Apple(:AAPL) and Samsung. Set against this backdrop, shares of Sony have dropped 60.9% in the past five years, according to Google Finance. Over the same time, shares of Apple have gained 396.6%.
Sony could not be immediately reached for comment.
Shares of Sony were lower Friday, off 1.2% to $17.49.
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--Written by Chris Ciaccia in New York
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