Kutaragi, will retire as chief executive of the Japanese company's game division on June 19, Sony said Thursday.
Kutaragi, 56, known as the "Father of PlayStation," steps Xbox 360 and Nintendo Co. Ltd.
's Wii console.
Entertainment Inc. and act as a senior technology adviser to parent Sony Corp.
Kaz Hirai, the unit's current president and chief operating officer, has been promoted to president and group chief executive in charge of the PlayStation business.
is critical for Sony's fledgling earnings recovery, analysts say. The company has lost its lead in other key product areas such as portable music players.
PlayStation 2 in 2000.
Those consoles, which have an installed base of more than 200 million units globally, dominated the competition.
to a likely loss of more than 200 billion yen, or around $1.
7 billion, in the past business year.
In a statement, Kutaragi said he would pursue work beyond forward to building on this vision in my next endeavors."
Sony's American depositary shares fell 1.
7 percent, or 92 cents, to $54.30 on the New York Stock Exchange.
2007 Reuters.
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