Sony Corp said on Tuesday it had replaced the chief executive of its gaming unit with his British deputy, as profit falls and the company looks to the launch of its next console.

Sony Interactive Entertainment said Deputy President Jim Ryan would become president and CEO from 1 April. The appointment comes days after the unit reported falling profits as its hit PlayStation 4 console nears the end of its lifecycle.

Sony has said it is planning a follow-up device but has not provided details such as a name or timing.

“This industry is relentlessly fast-moving, and to remain the market leader we must constantly evolve ourselves with a sense of urgency,” Sony Corp CEO Kenichiro Yoshida said of the appointment.

Incumbent John Kodera, who took up the role in Nov 2017, will become deputy president with a focus on the PlayStation’s network business. His predecessor, Andrew House, was in the post for six years.

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