Internet portal Livedoor Co said it has appointed executive vice president Kozo Hiramatsu as new president replacing Takafumi Horie, as of today. The company said officer Fumito Kumagai has also been appointed a representative director as of today. At the same time Livedoor said it has accepted the resignation of chief financial officer Ryoji Miyauchi. The management reshuffle came after prosecutors arrested yesterday president Takafumi Horie, along with three other senior Livedoor officials, on suspicion that they violated securities trading laws. Hiramatsu worked for consumer electronics giant Sony between 1973 and 1986