Ken Kutaragi bails out

Godfather of PlayStation steps down after launching PS3 to become "honorary chairman"

Sony Computer Entertainment and Sony Corporation have jointly announced that Ken Kutaragi, representative director, chairman and group CEO of SCEI will retire from his executive position effective June 19, 2007.

Kutaragi is known as the "father of PlayStation" and invented and launched the original PlayStation in 1994 as well as the PS2 in 2000.

Kutaragi will step back from his executive management role to serve as honorary chairman of SCEI and provide insight and support Sony boss Sir Howard Stringer as senior technology advisor.

According to Sony After launching the PlayStation 3 worldwide. Kutaragi has decided to "pursue his dreams beyond PlayStation and to accelerate his network vision."

Kazuo Hirai, president and Group COO at SCEI will be promoted to president and Group CEO, continuing his responsibility as the leader of the PlayStation business.

"I am happy to graduate from Sony Computer Entertainment Inc. after introducing four platforms to the PlayStation family," said Ken 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."