Sir Howard Stringer out as Sony CEO

TOKYO - Sony Corp. (SNE) has announced that Kazuo Hirai will replace Sir Howard Stringer as CEO and president of the electronics company effective April 1.

Hirai, 51, runs the company's consumer products business and is currently executive deputy president. He has also led the company's gaming division in the past.

"60 Minutes" profile: Sir Howard Stringer

The Welsh-born Sir Howard, one of the few foreign CEOs to lead a major Japanese company, will become chairman of the board of directors in June, Sony said in a statement.

From 1986 to 1988, Stringer served as president of CBS News.