Sony chairman Kazuo Hirai has announced he will retire from the tech and entertainment giant this summer.

Hirai has set a June 18 departure date after stepping down as CEO last year in a surprise move. Sony says he will continue to act as a senior advisor to management.

Sony Corp. stock soared today following the news that Chief Executive Kaz Hirai is stepping down from the helm of the Japanese corporation, to be succeeded by Chief Financial Officer Kenichiro Yoshida.

Wall Street observers say the stock movement is a sign of investor speculation that this changing of the guard might o…

Sony has announced that CEO Kaz Hirai will be replaced as of April 1 and become chairman of the company. CFO Kenichiro Yoshida will be his replacement.

Hirai has been CEO since 2012, replacing Howard Stringer. He was credited with turning around lagging fortunes at the company, implementing his “One Sony” program. Duri…