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PlayStation creator Kutaragi resigns

In the wake of poor PS3 sales, executive shuffling at Sony continues.

The Wall Street Journal is reporting (subscription required for full story) that Ken Kutaragi, creator of Sony's PlayStation console line, has stepped down from his post at the company.

While it was originally expected to give Sony new momentum, PS3 sales were ultimately disappointing, and according to the Journal article, the company is now dealing with $2 billion in losses related to its video games division over the past year (ending March 31.)

Sony CEO Howard Stringer has famously been reshuffling the company's executive lineup since last fall.

UPDATE: Sony Computer Entertainment Inc. confirmed Kutaragi's departure to CNET News.com and provided this statement: "Mr. Kutaragi has said that he has been considering this decision for some time...With the March introduction of PS3 in Europe completing the successful launch of PS3 worldwide, Mr. Kutaragi has identified SCE?s Annual Shareholders? meeting in June as the ideal timing to pass on the torch to the new generation of management. Mr. Kutaragi will now apply his extensive technological knowledge and leadership skills to take on new challenges beyond the world of PlayStation."