28 Jul 2021 07:00
FOR IMMEDIATE RELEASE | No. 3424 |
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| Media Inquiries |
| Takeyoshi Komatsu |
| Public Relations Division |
| Mitsubishi Electric Corporation |
| Tel: +81-3-3218-2346 |
| prd.gnews@nk.MitsubishiElectric.co.jp |
| www.MitsubishiElectric.com/news/ |
Mitsubishi Electric Announces Replacement of President & CEO,
Changes to Representative Executive Officer and Executive Officer
TOKYO, July 28, 2021 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that in light of a series of issues in Mitsubishi Electric Group, namely the quality-related conduct disclosed on June 30 and July 2, 2021, pertaining to HVAC (Heating, Ventilation and Air Conditioning systems) for railcars, among others, Director, Representative Executive Officer, President & CEO Takeshi Sugiyama will resign as of July 28, 2021. In addition, at an extraordinary meeting of the Board of Directors held on July 28, 2021, resolutions were made concerning a successor to the positions of President & CEO and Representative Executive Officer, as well as with regard to the executive officer structure.
1. Reason for Changes
With consideration to the certain quality-related issues in recent years, starting with certain quality-related conduct for railcar HVAC systems, as well as issues related to labor and information leakage through unauthorized access, former Director, Representative Executive Officer, President & CEO Takeshi Sugiyama, at a press conference held on July 2, 2021, took the matter gravely and stated that he would resign from the position of president.
As such, at an extraordinary meeting of the Board of Directors held on July 28, 2021, Mitsubishi Electric made resolutions pertaining to the successor to the positions of President & CEO and Representative Executive Officer, and concerning the executive officer structure.
Under the leadership of the new President & CEO and Executive Officers, Mitsubishi Electric will investigate the root causes of the series of improper quality-related conduct, and will also promote reform of the company's corporate culture while striving to recover trust from all stakeholders.
2. Replacement of President & CEO, and Change of Executive Officer
New | Current | Name |
Representative Executive Officer, President & CEO | Representative Executive Officer, Senior Vice President, Export Control, Corporate Strategic Planning and Operations of Associated Companies, CSO | Kei Uruma |
Representative Executive Officer, Senior Vice President, Export Control and Building Systems | Representative Executive Officer, Senior Vice President, Building Systems | Tadashi Matsumoto |
Executive Officer, Corporate Strategic Planning and Operations of Associated Companies, CSO | Executive Officer, Research & Development, CTO | Kunihiko Kaga |
Executive Officer, Research & Development, CTO | Senior General Manager, Advanced Technology R&D Center | Tomonori Sato |
3. Change of Representative Executive Officer
New | Current | Name |
Representative Executive Officer, Senior Vice President, Auditing, Legal Affairs & Compliance and Corporate Communication (Sustainability, Public Relations and Advertising), CCO | Senior Vice President, Auditing, Legal Affairs & Compliance and Corporate Communication (Sustainability, Public Relations and Advertising), CCO | Jun Nagasawa |
\* The Company's three Representative Executive Officers as of July 28, are Uruma, Matsumoto, and Nagasawa.
4. Name and Career Summary of Newly Appointed Officers (as of July 28, 2021)
(1) Representative Executive Officer, President & CEO
New position | Representative Executive Officer, President & CEO | |
Name | Kei Uruma | |
Date of birth | July 27, 1959 (62 years old as of July 28, 2021) | |
Education | March 1982 | Graduated from Faculty of Commerce, Waseda University |
Career summary | April 1982 | Joined Mitsubishi Electric Cooperation |
| April 2006 | Senior General Manager, Planning & Administration Div. of Factory Automation Systems Group |
| April 2010 | Deputy Senior General Manager, Global Strategic Planning & Marketing Group |
| April 2011 | Executive Vice President, Mitsubishi Electric Europe B.V. |
| April 2012 | President, Mitsubishi Electric Europe B.V. and Regional Corporate Officer of Europe, Global Strategic Planning & Marketing Group |
| April 2015 | Executive Officer, Factory Automation Systems Group |
| April 2017 | Executive Officer, Public Utility Systems Group |
| April 2018 | Senior Vice President, Public Utility Systems Group |
| April 2020 | Representative Executive Officer, Senior Vice President, Corporate Strategic Planning and Operations of Associated Companies |
| June 2020 | Director, Representative Executive Officer, Senior Vice President, Corporate Strategic Planning and Operations of Associated Companies |
| April 2021 | Director, Representative Executive Officer, Senior Vice President, Export Control, Corporate Strategic Planning and Operations of Associated Companies |
Date of appointment as President & CEO | July 28, 2021 | |
Number of shares owned | 65 thousand shares | |
(2) Representative Executive Officer
New position | Representative Executive Officer, Senior Vice President | |
Name | Jun Nagasawa | |
Date of birth | March 16, 1960 (61 years old as of July 28, 2021) | |
Education | March 1983 | Graduated from Faculty of Law, Keio University |
Career summary
| April 1983 | Joined Mitsubishi Electric Corporation |
October 2007 | Senior General Manager, Marketing Research & Business Development Dept. | |
October 2008 | Deputy Senior General Manager, Lighting, Ventilation & Housing Systems Div. | |
April 2009 | Senior General Manager, PV Systems Div. | |
April 2013 | Senior General Manager, Kanagawa Branch Office | |
April 2016 | Senior General Manager, Kansai Branch Office | |
April 2018 | Executive Officer (Advertising, Domestic Marketing) | |
April 2021 | Senior Vice President (Accounting, Legal Affairs & Compliance and Corporate Communication (Sustainability, Public Relations and Advertising)) | |
Date of appointment as Representative Executive Officer | July 28, 2021 | |
Number of shares owned | 23 thousand shares | |
(3) Executive Officer
Tomonori Sato (Date of birth: August 31, 1967) 53 years old | March 1992 | Completed Master's course in Precision Engineering, Graduate School of Engineering, Kyoto University |
April 1992 | Joined Mitsubishi Electric Corporation | |
April 2020 | Deputy Senior General Manager, Advanced Technology R&D Center | |
April 2021 | Senior General Manager, Advanced Technology R&D Center | |
Date of appointment as Executive Officer | July 28, 2021 | |
Note: Regarding Directors of Mitsubishi Electric Corporation
Upon Mr. Takeshi Sugiyama's resignation, as of July 28, Mitsubishi Electric Corporation will have 11 Directors as follows:
Messrs. Masaki Sakuyama (Chairman), Kei Uruma, Masahiko Sagawa, Tadashi Kawagoishi, Takashi Sakamoto, Kuniaki Masuda, Mitoji Yabunaka, Hiroshi Obayashi, Kazunori Watanabe, and Takashi Oyamada and Ms. Hiroko Koide.
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About Mitsubishi Electric Corporation
With 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its "Changes for the Better." The company recorded a revenue of 4,191.4 billion yen (U.S.$ 37.8 billion*) in the fiscal year ended March 31, 2021. For more information, please visit www.MitsubishiElectric.com
*U.S. dollar amounts are translated from yen at the rate of \111=U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2021