Ken Kutaragi, the “Father of PlayStation” steps down

Ken Kutaragi, who is considered the “Father of PlayStation” becuase he pushed the idea of a gaming console through the ranks of Sony in 1990, will stepped down in June. Mr. Kutaragi 956 years old), was currently chairman and chief executive of the Sony Computer Entertainment unit, and will then serve as honorary chairman and will support Mr. Stringer as senior technology advisor.

The reasons for this are rather clear. PlayStation was a huge success, PS2 was even bigger, the PSP was late to market and therefor led to slower sales, and well, we all know about the year late $599 PS3. At a board meeting a few weeks later, Mr. Kutaragi suggested a drop in price of the entry-level PlayStation 3 console of 20% to just under 50,000 yen (about $420) to make it more competitive.

To replace Mr. Kutaragi, Sony said Kazuo Hirai, the 46-year-old former U.S. head who was named president last fall, will be promoted to chief executive.

Read [WSJ]