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Nidec to Introduce Executive Officer System KYOTO, Japan, April 23, 2008 (PRIME NEWSWIRE) -- Nidec Corporation
(NYSE:NJ - News) resolved at a meeting of its Board of Directors
held today that it will be placing on the agenda of the
Annual General Meeting of Shareholders and subsequent meeting
of the Board of Directors, both scheduled for June 24, 2008,
the following proposed changes to its Board of Directors
and introduction of the Executive Officer System. Details are as follows: 1. Objectives Through the introduction of the Executive Officer System, the Company aims to build a leaner, more agile management framework better able to match the speed of market changes and help drive the Company's globalization. The Company will reduce the size of its Board of Directors to allow for more proactive, in-depth Board discussions on the Company's policies and strategic directions. As the locus of the Company's management responsibilities, the Board of Directors will assume an enhanced role in the establishment and maintenance of a competitive business structure to swiftly address challenges arising from today's fast-changing market. Simultaneously, the Company will appoint executive officers (comprehensively named ``vice presidents'' under the Company's position system), who perform duties delegated by the Board of Directors. Executive officers (or vice presidents) will be selected primarily from the Company's younger, competent executives, who have developed hands-on, agile management prowess through leadership opportunities at the Company's consolidated subsidiaries in and outside Japan. 2. Outline of the Executive Officer System
(1) In line with the policies and strategies set by the Board of
Directors, executive officers (or vice presidents) perform
duties within their delegated areas of responsibility.
(2) Executive officers' term of office is to be one year.
(3) Executive officers will be appointed and discharged by a
resolution of the Board of Directors.
3. Effective Date of the Executive Officer System Effective after the General Annual Meeting of Shareholders and subsequent meeting of the Board of Directors to be held on June 24, 2008 4. Changes in Board Members (effective June 24, 2008)
(1) Newly Appointed Board Member
Name Current Position
Masuo Yoshimatsu Executive Consultant
(2) Retiring Board Members
Name Current Position
Seizaburo Kawaguchi Managing Director
Norimasa Goto Director
Seiichi Hattori Director
Kiyoyoshi Takegami Director
Takashi Iwata Director
Osamu Narumiya Director
Akira Kagata Director
Toru Kodaki Director
5. Proposed Board Members and Executive Officers (effective after the close of the Ordinary General Meeting of Shareholders and Board Meeting scheduled for June 24, 2008)
(1) Directors of the Board
Name New Position Current Position
Shigenobu Nagamori Unchanged Representative
Director,
President, CEO
Hiroshi Kobe Representative Representative
Director, Director,
Executive Vice Vice
President, President,
COO COO
Yasunobu Toriyama Executive Vice Director, Vice
President, President,
CFO, CFO
Member of the Board
Kenji Sawamura Executive Vice Director, Vice
President, President
Member of the Board
Juntaro Fujii Executive Vice Director, Vice
President, President
Member of the Board
Yasuo Hamaguchi First Senior Vice Senior Managing
President, Director
Member of the Board
Tadaaki Hamada Senior Vice Managing
President, Director
Member of the Board
Tetsuo Inoue Vice President, Director
Member of the Board
Masuo Yoshimatsu Vice President, Executive
Member of the Board Consultant
(2) Corporate Auditors
Name New Position Current Position
Hideo Asahina Standing Auditor Standing Auditor
Ryoji Takahashi Standing Auditor Standing Auditor
Shiro Kuniya Auditor Auditor
Yoshiro Kitano Auditor Auditor
Susumu Ono Auditor Auditor
(3) Executive Officers
Name New Position Current Position
Seizaburo Kawaguchi Senior Vice President Managing Director
Norimasa Goto Senior Vice President Director
Seiichi Hattori Senior Vice President Director
Kiyoyoshi Takegami Senior Vice President Director
Takashi Iwata Vice President Director
Masahiro Hishida Vice President Senior Managing
Director of
Nidec Shibaura
Corp. and Nidec
Power Motor
Corp.
Takashi Watanuki Vice President Vice President
of Nidec
(Dalian) Limited
Osamu Narumiya Vice President Director
Tsuyoshi Takahashi Vice President Representative
of Central
Technical
Laboratories
Tadashi Matsumoto Vice President Managing Director
of Nidec-Read
Corp.
Hitoshi Inoue Vice President Representative
of Shiga
Technical Center
Akira Kagata Vice President Director
Genzo Arakawa Vice President Director of
Japan Servo
Co., Ltd.
Toshihiko Miyabe Vice President President of
Nidec
Philippines
Corp.
Hitoshi Tatsuno Vice President Chairman,
President of
Nidec (Dalian)
Limited
Kuniyasu Tampo Vice President President of
Nidec
Electronics
Thailand Co.,
Ltd.
The Nidec Corporation logo is available at: http://www.primenewswire.com/newsroom/prs/?pkgid=1734 Contact: Nidec Corporation
Masahiro Nagayasu, General Manager, Investor Relations
+81-75-935-6140
ir@jp.nidec.com
Source: Nidec Corporation
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