Announcement of Personnel Changes and Reduction of Remuneration for Director and Executive Officers : Showa Denko Materials
November 22, 2018
Hitachi Chemical Co., Ltd.
Hitachi Chemical Co., Ltd. reiterates its deepest apologies for the considerable inconvenience and concern caused to all persons concerned by the inappropriate product testing, etc. relating to the company’s products.
We take this situation very seriously and hereby announce that the company has decided to clarify where responsibility lies by undertaking personnel changes (via demotion or retirement from the position) or reducing remuneration for relevant Director and Executive Officers, as detailed below.
We will steadily implement the measures to prevent recurrence drawn up after the inappropriate product testing, etc. was discovered (for details of the measures, see the news release dated November 22, 2018, entitled “Measures to Prevent Recurrence of Inappropriate Product Testing, etc.”). At the same time, we will make every effort to restore our stakeholders’ trust.
1. Details of personnel changes
(1) Demotion (as of November 22, 2018)
- Name:
- Yoshihiro Nomura
- Current job title:
- Representative Executive Officer, Executive Vice President, Executive Officer, and CRO※
- New job title:
- Senior Vice President and Executive Officer
- ※ CRO: Chief Risk Officer
(2) Retirement from the position (as of November 22, 2018)
- Name:
- Masanobu Habiro
- Current job title:
- Executive Officer
2. Reduction of remuneration
(1) The name list and rate of reduction
| Chairman of the Board | Kazuyuki Tanaka | 50% of monthly remuneration |
|---|---|---|
| President and Chief Executive Officer | Hisashi Maruyama | 50% of monthly remuneration |
| Vice President and Executive Officer | Mitsuyoshi Toyoshima | 30% of monthly remuneration |
| Vice President and Executive Officer | Misao Nakagawa | 30% of monthly remuneration |
| Vice President and Executive Officer | Hiroyuki Morishima | 30% of monthly remuneration |
| Vice President and Executive Officer | Hiroyuki Yamashita | 30% of monthly remuneration |
| Executive Officer | Mitsuo Katayose | 20% of monthly remuneration |
| Executive Officer | Sakae Goka | 20% of monthly remuneration |
| Executive Officer | Hiroyuki Takei | 20% of monthly remuneration |
| Executive Officer | Akinori Hanawa | 20% of monthly remuneration |
| Executive Officer | Takuya Hirano | 20% of monthly remuneration |
| Executive Officer | Shigeru Fujita | 20% of monthly remuneration |
| Executive Officer | Hiroshi Yoshida | 20% of monthly remuneration |
(2) Duration of reduced remuneration
Three months from December 2018
For further information, contact
Public Relations Group, Brand Communication Department