February 12, 2019 / 2:57 AM / 12 days ago

Sony's gaming unit appoints new chief as profit falls, generational shift looms

FILE PHOTO : The company logo of Sony Corporation is seen at the CP+ camera and photo trade fair in Yokohama, Japan, February 25, 2016. REUTERS/Thomas Peter/File Photo

TOKYO (Reuters) - Sony Corp said on Tuesday it had replaced the chief executive of its gaming unit with his British deputy, as profit falls and the company looks to the launch of its next console.

Sony Interactive Entertainment said Deputy President Jim Ryan would become president and CEO from April 1. The appointment comes days after the unit reported falling profits as its hit PlayStation 4 console nears the end of its lifecycle.

Sony has said it is planning a follow-up device but has not provided details such as a name or timing.

“This industry is relentlessly fast-moving, and to remain the market leader we must constantly evolve ourselves with a sense of urgency,” Sony Corp CEO Kenichiro Yoshida said of the appointment.

Incumbent John Kodera, who took up the role in Nov 2017, will become deputy president with a focus on the PlayStation’s network business. His predecessor, Andrew House, was in the post for six years.

Reporting by Sam Nussey; Additional reporting by Makiko Yamazaki; Editing by Stephen Coates

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