News
Senior Management Changes
25 Jun 2015
Announcement of Changes in Representative Directors, Directors, and Advisors
Osaka, Japan – June 23, 2015 – TOYO TIRE & RUBBER CO., LTD. (“Company”; President: Takuji Yamamoto), announced the following management changes decided at an emergency meeting of the Board of Directors on June 23, 2015.
1. Management Changes
Name |
New Position |
Former Position |
Akira Nobuki |
Resigns effective July 1, 2015 |
Chairman, Representative Director |
Takuji Yamamoto |
• Continues in the same positions until the next extraordinary meeting of the shareholders to be held in the Fall of 2015, and no later than year-end. • Group Executive Officer, Seismic Isolation Rubber Task Force, effective July 1, 2015. |
• President • Representative Director • Group Executive Officer, Tire Business • General Manager, North America Business Unit • Tire Business Group Headquarters |
Tetsuya Kuze |
• Senior Corporate Officer • General Manager, Administrative Division • General Manager, Corporate Planning Division • Corporate Purchasing Division |
• Executive Corporate Officer • Representative Director • General Manager, Administrative Division • General Manager, Corporate Planning Division • CSR Center • Corporate Purchasing Division |
Kazuyuki Ito |
• Advisor |
• Director • Senior Corporate Officer • General Manager, Technology Management Center • Tire Production Division • Central Research Center • Technology Development of DT |
Sadao Ichihara |
• Director (to resign this position at the next extraordinary meeting of shareholders) • Senior Corporate Officer • Group Executive Officer, DT Business • General Manager, Chemical & Industrial Products Business Unit |
• Director • Senior Corporate Officer • Group Executive Officer, DT Business, • General Manager, Chemical & Industrial Products Business Unit |
Toshiaki Okazaki |
Retires effective July 1, 2015 |
• Corporate Officer |
Kenji Nakakura |
Retires effective July 1, 2015 |
• Executive Emeritus |
Haruhiro Shinsho |
Retires effective July 1, 2015 |
• Advisor |
Gentaro Aoki |
Retires effective July 1, 2015 |
• Full-time Advisor |
2. Seismic Isolation Rubber Investigation
The Board decision follows the issuance of a report on June 22, 2015, by the outside investigative team regarding the manufacture and sale of non-compliant seismic isolation rubber products by the Company’s Japanese subsidiary, Toyo Chemical Industrial Products Co., Ltd. (“Toyo Chemical”). The Board will appoint a new management team at the next emergency shareholders meeting to be held this Fall.
Until his successor is appointed, Mr. Takuji Yamamoto will continue in his current role as president to manage remediation efforts at Toyo Chemical, and to effect an orderly transition to the new management team. Separately, the company will appoint a chairman or special advisor from outside the company to ensure strong corporate governance.
TOYO TIRE & RUBBER CO.,LTD. Corporate Communications Planning Dept.
Osaka Head office Telephone: +81-6-6441-8803 Facsimile: +81-6-6446-1925
Tokyo Branch office Telephone: +81-3-5822-6621 Facsimile: +81-3-3865-2240
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