PlayStation Boss set to retire on June 19

Global leader in consumer-based computer entertainment, Sony Computer Entertainment Inc. the video game division of Sony Corporation today confirmed the retirement of its CEO, Ken Kutaragi, better known as the 'Father of PlayStation' this June.

Relinquishing his executive position to current SCEI president and CEO Kaz Hirai, Kutaragi will take up the role of Honorary Chairman and will act as a senior technology adviser to Sony CEO, Sir Howard Stringer.

Kutaragi's retirement will become effective on June 19, the day of SCEI's annual shareholders' meet.

Earlier, a SCEI management shuffle in November, 2006, saw Kutaragi move from the position of SCE president to that of chairman and group CEO.

Kutaragi, 56, invented the original PlayStation in 1994, followed by the launch of the PlayStation 2 six years later in 2000.

Capturing a $20 billion market share, both PlayStation and PlayStation 2 combined together add up to over 200 million units installed in homes around the world with over 2 billion units of PS and PS2 software have been shipped around the globe.

Moreover, with official launch of PlayStation 3 in November 2006 in Japan and North America and in March 2007 in Europe, Sony hopes to revolutionize the computer gaming experience.

Despite high end technologies, the PlayStation 3 is facing tough competition from Microsoft Corp.'s Xbox 360 and Nintendo Co. Ltd.'s Wii console. Production blues lead to a global sales drop to third place behind Nintendo Co.'s Wii and Microsoft Corp.'s Xbox 360.

Born in Tokyo, Japan, Kutaragi was a studious, high-level student often described as a "straight A++" and worked after school in his family's printing business. His love for electronics led him to enroll in the University of Electro-Communications, where he acquired an Electronics degree.

Immediately after graduation, Kutaragi began working for Sony in their digital research labs. He quickly gained a reputation as an excellent problem solver and a forward thinking engineer. He worked on many successful projects - including early liquid crystal displays (LCDs) and digital cameras.

The word most often used to describe Kutaragi was "brash." CEO of Sony Online Entertainment, Kelly Flock, called him "the most animated and passionate person I've ever known."

Acknowledging Kutaragi’s work, Sir Howard Stringer, chairman and CEO of Sony Corporation said, “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.”

“Not only has he created a multi-billion dollar business for the Sony Group, he has brought the industry into a new dimension”, Stringer added.