Notice Concerning Modification of Management Structure, Change of Representative Directors, Executives and Managing Officers
[Translation]
At the meeting held on April 28, 2016, the board of directors of Toyota Industries Corporation (TICO) resolved on its modification of management structure and personnel change regarding its representative directors, executives and managing officers.
It will take effect after the resolution of the 138th Ordinary General Meeting of Shareholders and the Board of Directors meeting held on June 10, 2016.
Ⅰ.Modification of Management Structure
TICO will modify its management structure designed to strengthen corporate governance.
Specifically, it will divide and clarify the role of “Director”, who is responsible for the management (decision-making and supervision), and “Managing Officer”, who is responsible for the execution of business operations. It follows that the “Senior Managing Director" will be eliminated.
*1 “Managing Officer” is composed by both “Senior Managing Officer (new)” and “Managing Officer (new)”.
*2 A formal decision will be made pending approval by the Ordinary General Meeting of Shareholders, held on June 10, 2016.
Ⅱ.Change of Executives and Managing Officers
1.Change of Representative Director
1)New Representative Director
Name | New title | Current title |
Masaharu Suzuki | Executive Vice President, Member of the Board and Representative Director |
Senior Managing Director |
Career summary of the new Representative Director | ||||||||||||||||
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2.Change of Executives
1)Retiring Directors
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*1 “Senior Managing Officer (new)” (appointed, as indicated below) |
2)Director with Title Change
Name | New title | Current title |
Takuo Sasaki | Senior Managing Officer (new), Member of the Board |
Senior Managing Director |
3.Change of Audit and Supervisory Board Members
1)New Audit and Supervisory Board Member
Name | Current title |
Toshifumi Ogawa | Senior Managing Director |
2)Retiring Audit and Supervisory Board Member
Name | Current title |
Kakuo Ishikawa | Audit and Supervisory Board Member |
3)New Outside Audit and Supervisory Board Member
Name | Current title |
Akihisa Mizun | Chairman of the Board of Directors, Chubu Electric Power Co.,Inc. |
4)Retiring Outside Audit and Supervisory Board Member
Name | Current title |
Toshio Mita | Outside Audit and Supervisory Board Member |
4.Change of Managing Officers
1)Senior Managing Officers (new)
Name | New title | Current title |
Takuo Sasaki | Senior Managing Officer (new), Member of the Board |
Senior Managing Director |
Toshifumi Onishi | Senior Managing Officer (new) | Senior Managing Director |
Kan Otsuka | Senior Managing Officer (new), Member of the Board |
Director |
Taku Yamamoto | Senior Managing Officer (new), Member of the Board |
Director |
Keiichi Fukunaga | Senior Managing Officer (new) | Director |
2)Managing Officers (new)
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*2 newly appointed member |
3)Retiring Managing Officers
Name | Current title |
Hiroaki Asai | Senior Managing Officer |
Kazuyuki Yamaguchi | Managing Officer |
(For your reference) New Management Structure
As a result of the foregoing changes, the Company's new management structure as of June 10, 2016 will be as follows.
1)Board of Directors < *3 Representative Directors *4 promoted >
Name | Title |
*3 Tetsuro Toyoda | Chairman of the Board |
*3 Akira Onishi | President, Member of the Board |
*3 Kazue Sasaki | Executive Vice President, Member of the Board |
*3 Shinya Furukawa | Executive Vice President, Member of the Board |
*3*4 Masaharu Suzuki | Executive Vice President, Member of the Board |
Takuo Sasaki | Senior Managing Officer (new), Member of the Board |
Kan Otsuka | Senior Managing Officer (new), Member of the Board |
Taku Yamamoto | Senior Managing Officer (new), Member of the Board |
Shuzo Sumi | Outside, Independent Director |
Kenichiro Yamanishi | Outside, Independent Director |
Mitsuhisa Kato | Outside Director |
2)Audit and Supervisory Board Members < *5 appointed >
Name | Title |
*5 Toshifumi Ogawa | Full-Time Audit and Supervisory Board Member |
Kohei Nozaki | Full-Time Audit and Supervisory Board Member |
Hans-Juergen Marx | Outside, Independent Audit and Supervisory Board Member |
Takahiko Ijichi | Outside Audit and Supervisory Board Member |
*5 Akihisa Mizuno | Outside, Independent Audit and Supervisory Board Member |
3)Managing Officers < *5 appointed >
Name | Title |
Takuo Sasaki | Senior Managing Officer (new), Member of the Board |
Toshifumi Onishi | Senior Managing Officer (new) |
Kan Otsuka | Senior Managing Officer (new), Member of the Board |
Taku Yamamoto | Senior Managing Officer (new), Member of the Board |
Keiichi Fukunaga | Senior Managing Officer (new) |
Yukihisa Tsuchimoto | Managing Officer (new) |
Takashi Ito | Managing Officer (new) |
Toshiya Yamagishi | Managing Officer (new) |
Junichi Harada | Managing Officer (new) |
Mikihiko Okamoto | Managing Officer (new) |
Yojiro Mizuno | Managing Officer (new) |
Masahiro Kawaguchi | Managing Officer (new) |
Yuji Ishizaki | Managing Officer (new) |
Keizo Hara | Managing Officer (new) |
Kiyotsugu Kurimoto | Managing Officer (new) |
Masafumi Kunito | Managing Officer (new) |
Toshihiko Shimizu | Managing Officer (new) |
Koichi Ito | Managing Officer (new) |
Yasushi Kawai | Managing Officer (new) |
Hiroaki Kayukawa | Managing Officer (new) |
Toru Inagawa | Managing Officer (new) |
Hiroshi Matsumoto | Managing Officer (new) |
Kota Otoshi | Managing Officer (new) |
Norio Wakabayashi | Managing Officer (new) |
*5 Kazunari Kumakura | Managing Officer (new) |
*5 Hiroaki Matsuda | Managing Officer (new) |
*5 Hisashi Ichijo | Managing Officer (new) |