As was first spotted by MCV and GamePro, Sony Computer Entertainment Inc. (SCEI) and Sony Corporation have jointly announced today that Ken Kutaragi, Representative Director, Chairman and Group CEO, Sony Computer Entertainment Inc., will be stepping down from his executive position at SCEI. The move will be effective June 19, 2007, coinciding with SCEI's annual shareholders' meeting.

Although he will no longer be responsible for the PlayStation business on a day-to-day basis, Kutaragi will still hold the title of Honorary Chairman, and he will continue to support Sony CEO Sir Howard Stringer as a senior technology advisor.

Following the executive shuffle at SCE last November, when Kaz Hirai was promoted to president and group chief operating officer of SCEI and Kutaragi to Chairman, Hirai will once again move up the ladder. Hirai will fill Kutaragi's shoes as President and Group CEO and he will lead the PlayStation business globally going forward.

"I am happy to graduate from Sony Computer Entertainment Inc. after introducing four platforms to the PlayStation family," said Kutaragi. "It has been an exciting experience to change the world of computer entertainment by marrying cutting edge technologies with creative minds from all over the world. I'm looking forward to building on this vision in my next endeavors."

"Ken Kutaragi is a rare combination of a powerful visionary and entrepreneur in one figure," said Howard Stringer. "Not only has he created a multi-billion dollar business for the Sony Group, he has brought the industry into a new dimension. Sony has benefited tremendously from his vision, his creative genius, and from the very strong team he assembled and nurtured. As Ken moves forward to pursue new opportunities, we will encourage and support him. My support also goes to Kazuo Hirai, who is a terrific executive with a proven track record with PlayStation business in the US. I am confident that he will inspire and lead SCEI to new heights."

According to SCEI, Kutaragi has actually been "considering this decision for some time" and he felt that SCE's Annual Shareholders' meeting in June would be "the ideal timing to pass on the torch to the new generation of management." It's not clear exactly what's next for Kutaragi, but SCE said that he will now "apply his extensive technological knowledge and leadership skills to take on new challenges beyond the world of PlayStation."