Sony Electronics president and COO Phil Molyneux is ceding his role to executive vice president Michael Fasulo. Molyneux has worked for Sony for 23 years and was appointed to his current role in 2010: in a statement, Sony Corporation CEO Kaz Hirai thanked him for "his dedicated service and passionate commitment to the employees he led for the past three-plus years." Molyneux will now be stepping into a more advisory role as non-executive chairman. As Fasulo becomes president, the vice presidency will go to general manager of marketing Toshifumi Okuda. The change is expected to come on January 1st.

Fasulo is another longtime Sony employee, having joined three years before Molyneux in 1984; unlike Molyneux, who studied mechanical engineering before joining Sony, Fasulo began as a financial analyst. It's no real surprise that he's stepping into Molyneux's shoes in overseeing Sony Electronics, which handles sales and marketing for the company's televisions, cameras, and computers. Molyneux headed the division as Hirai attempted to turn the larger corporation's finances around and was tasked with streamlining the electronics product lines; while the company's finances have improved since then, however, the electronics division continues to suffer from tepid demand.