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Former Sony boss Kazuo Hirai will leave the company after 35 years.
Mr Hirai was instrumental in turning Sony around to focus on smartphone image sensors. He stood down as chief executive last year and remained chairman. But today he announced plans to leave Sony.
"I am confident that everyone at Sony is fully aligned under [Kenichiro Yoshida's] strong leadership, and are ready to build an even brighter future for Sony. As such, I have decided to depart from Sony, which has been a part of my life for the past 35 years. I would like to extend my warmest gratitude to all our employees and stakeholders who have supported me throughout this journey," he said in a statement.
Sony shares jumped nearly 5% in Tokyo after the electronics firm announced its first ever stock buyback.
The 100bn yen ($910m; £702m) buyback is designed to boost shareholder returns.
It's the second major buyback from a Japanese company this week, after tech conglomerate Softbank said it would repurchase $5.5bn worth of stock.