Sony Group has appointed Totoki Hiroki as its new president. It will be the first such change in five years.

The company made the decision at a board meeting on Thursday. It will take effect on April 1. Totoki will serve as the company's chief operating officer and chief financial officer.

At the news conference, Totoki said that with their diversity, he hopes the group will keep evolving and growing so customers choose them. He said that the growth will energize their employees and attract talented people, which will eventually raise their corporate value and they can contribute to society. He added that he wants to create such a "positive spiral".

Totoki, who is 58-years old, joined Sony in 1987 and became representative director of Sony Bank in 2002.

He went on to lead Sony's telecommunications and smartphone businesses before becoming the company's current executive deputy president and CFO.

President Yoshida Kenichiro will continue to serve as chairman and CEO with representative authority.

Sony Group has been strengthening its game and entertainment business while advancing into the field of electric vehicles in partnership with Honda Motor.

It aims to further boost its group strategy under the new leadership.