Kenichiro Yoshida named new Sony chief executive

Kenichiro Yoshida has been named the new chief executive of Sony.

As chief financial officer, he was credited with turning the group round.

The announcement of his promotion was welcomed by investors.

Sony’s share price went up 1.9 percent on Friday.

Yoshida had made a name for himself by scrapping previously-renowned consumer products to plug company losses .

He will take over from Kazuo Hirai, who will become the group's chairman..