'Father of PlayStation' retires from Sony

Sony has recently declared that Ken Kutaragi, the so-called 'Father of PlayStation', will be retiring from Sony in June and will be taking an honorary role as Chairman. His main duty will be offering guidance to Sir Howard Stringer, the CEO of Sony, kind of like a man-sized strategy guide.

Kutaragi is credited with inventing the first two models of the PlayStation, two of the most successful consoles of all time and which still hold a presence in the hearts and bedrooms of gamers worldwide.

Unfortunately, sales of the PS3 have been disappointing and the company is now reportedly dealing with losses of up to $2 billion in its video games division accumulated over the last year.

Kaz Hirai, another prominent figure at Sony, will be promoted to CEO of Sony Computer Entertainment Inc., while remaining in position as company President.

Kutaragi released a statement through Sony, saying he has decided to continue his work on projects beyond PlayStation and "accelerate his network vision"

"I am happy to graduate from Sony Computer Entertainment Inc. after introducing four platforms to the PlayStation family," said Kutaragi to press.

Want to pass on good wishes to Kutaragi, or want to blast Sony for allowing him to step down? Do so in the forums.