Sony's stock hit new height after its recent leadership restructuring

Sony is shaking things up at their core leadership, and with that, the Japanese gaming giant’s stock hit a new height in perhaps its highest in the past five years.

The PlayStation makers announced key leadership changes to strengthen their operations. Effective on April 1, Hideaki Nishino will take on the role of President and CEO of Sony Interactive Entertainment (SIE) after his tenure as CEO of the Platform Business Group.

Nishino has been a part of Sony since 2000.

On the other hand, Hiroki Totoki will step down from his position as SIE Chairman to become the new President and CEO of Sony Corporation. Hermen Hulst will also no longer serve as co-CEO of SIE but will continue as CEO of the Studio Business Group to oversee PlayStation products.

Sony has been experiencing a new height thanks to its push for cloud gaming and the PlayStation Portal (PS Portal)’s success.

More recently, the handheld remote-play device received praise as a “huge success” from both Hulst and Nishino. The device, which combines the PS5’s DualSense features with an 8-inch 1080p screen, now supports direct Cloud streaming through a beta program.

Since the PS Portal’s success, rumors of a PlayStation 5 Portable continue to grow, or whatever they’ll call it. The portable PS5 can natively run PS5 games, setting it apart from the PS Portal, which can only stream games. Bloomberg first learned about the rumor, although the report says that we’re still years away from the launch.

Lin Tao, currently SVP of Finance, Corporate Development, and Strategy at SIE, will also transition to become CFO of Sony Group Corporation.