Sony Group Corporation (NYSE:SONY) disclosed that Sony Pictures Entertainment's (SPE) Chairman and CEO Tony Vinciquerra will step down from his post.

Sony Pictures Entertainment appointed Ravi Ahuja, current Chairman of Global Television Studios and President and COO, as the new President and CEO, effective January 2, 2025.

Vinciquerra will serve as non-executive Chairman for SPE in an advisory role until December 2025.

Ravi Ahuja joined SPE in 2021 as Chairman of Global Television Studios, overseeing Sony Pictures Television's (SPT) production businesses and operations in India.

Under his leadership, SPT has produced acclaimed series like The Crown, The Boys, Cobra Kai, and American Idol.

Yoshida commented, "Under Tony's watch, SPE became a critically important part of our efforts to maximize the value of our IP and find synergies across all our entertainment and technology businesses, and it remains a key driver in Sony Group's ongoing corporate strategies to lean further into the creative and entertainment spaces."

"Since joining SPE in 2021, Ravi has been at the center of Tony's leadership team, navigating the unprecedented challenges of today's media and entertainment environment and positioning SPE for further growth. Ravi brings with him years of experience from his time at some of the world's most successful entertainment companies, and we look forward to working more closely with him in his new role as President and CEO of SPE."

Last month, Sony announced the PlayStation Plus lineup for October 2024, featuring WWE 2K24, Dead Space Remake, and more.

Investors can gain access to the stock via BlackRock Large Cap Core ETF (NASDAQ:BLCR) and American Century ETF Trust Avantis Responsible International Equity ETF (NYSE:AVSD).

Price Action: SONY shares are up 0.62% at $97.17 at the last check Tuesday.

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