Sony has announced a high-level management shuffle that sees current chairman and CEO Howard Stringer becoming president, affording him a greater level of control and influence within the firm.

As part of the reshuffle, current president Ryoji Chubachi steps down from the role to become vice chairman, though he remains a member of the board.

In addition, Sony is to form two new business groups – one, headed up by SCE CEO Kaz Hirai, will incorporate its SCE gaming business and Vaio PC operations, whilst the second will overlook the firm’s other consumer electronics arms such as TVs, cameras and camcorders.

‭“‬This reorganisation is designed to transform Sony into a more innovative,‭ ‬integrated and agile global company with its next generation‭ ‬of leadership firmly in place,‭” ‬Stringer stated.

“The changes we're announcing today will accelerate the transformation of the company that began four years ago. ‬They will now make it possible for all of Sony's parts to work together to assume a position of worldwide leadership and,‭ ‬together,‭ ‬achieve great things.‭”

Sony is currently engulfed in what some are describing as a crisis, with big losses hitting its finances and job cuts already underway.