Notice Regarding Change in Representative Director (Scheduled)
At its meeting held on November 22, 2010, the Board of Directors of ASATSU-DK INC. (ADK, or the Company) approved a change in representative director as shown below.
1. Change in Representative Director (December 31, 2010)
|New Title||Name||Current Title|
|Executive Director, Chairman||Koichiro Naganuma||Representative Director, Chairman & Group CEO|
2. Reason for Change
Koichiro Naganuma, the current Representative Director and Chairman, has been serving together with two other representative directors in his position as Group CEO. Given the Company’s performance weakness and in order to better clarify managerial responsibilities, Koichiro Naganuma will resign from his Group CEO position, which will be taken over by Yoji Shimizu (currently Representative Director, President and COO) from January 1, 2011. Koichiro Naganuma also expressed a desire to hand back his representative rights (regulated by the Commercial Code of Japan). These were approved at the Board of Directors meeting.
Even after handing back his representative rights, Koichiro Naganuma will work hard to achieve recovery in the Company’s performance in his role as Chairman.
Effective January 1, 2011, Yoji Shimizu, currently Representative Director and President, will serve concurrently as Group CEO and COO.