Epson Introduces Outside Director System and Announces Executive Personnel Changes

 

- TOKYO, Japan, April 27, 2012 -

Seiko Epson Corporation ("Epson," 6724) today announced that a meeting of its board of directors had provisionally approved the introduction of an outside director system and also the following executive personnel changes. The changes are subject to final approval at the company's annual general meeting, board meeting and auditors' meeting scheduled to be held on June 20, 2012.
The lineup of executive officers from June 20 has also been approved.

1. Introduction of outside director system

Epson will introduce a new outside director system. This system will improve the transparency of management and will also allow the company to proactively reflect external standpoints and opinions in its management as it seeks to accelerate its growth strategy based on its SE15 Mid-Range Business Plan (second half).

2. Executive personnel changes

(1) Directors (planned date effective: June 20, 2012)

Promotion
Noriyuki Hama, managing director (current position: director and general administrative manager, Human Resources Division)

New appointments
Koichi Kubota, director (current position: executive officer and chief operating officer, Visual Products Operations Division)

Shigeki Inoue, director (current position: executive officer and deputy general administrative manager, Corporate Strategy Division)

Toshiharu Aoki, director (outside director)

Retirements
Seiji Hanaoka, (current position: chairman) nominated as advisor
Yasuo Hattori, (current position: vice chairman) nominated as honorary chairman
Torao Yajima, (current position: managing director) nominated as standing statutory auditor

(2) Standing statutory auditors (planned date effective: June 20, 2012)

New appointment
Torao Yajima (current position: managing director)

Retirement
Kenji Uchida (current position: standing statutory auditor)

(3) Executive officers (planned date effective: June 20, 2012)

New appointments
Yasumasa Kitamatsu, executive officer (current position: chief operating officer, Commercial Printer Operations Division)

Hideki Shimada executive officer (current position: general administrative manager, Imaging Products Key Components Research & Engineering Division, and deputy chief operating officer, Printer Operations Division)

Retirements
Koichi Kubota, nominated as director
Shigeki Inoue, nominated as director

Epson will announce any changes to executive responsibilities as appropriate.

Note: Proposed appointments after June 20, 2012.

Directors

Minoru Usui President (representative director)
Masayuki Morozumi Executive vice president (representative director)
Kenji Kubota Senior managing director (representative director)
Seiichi Hirano Managing director
Tadaaki Hagata Managing director
Noriyuki Hama Managing director (promoted)
Yoneharu Fukushima Director
Koichi Kubota Director (new appointment)
Shigeki Inoue Director (new appointment)
Toshiharu Aoki Director (outside director) (new appointment)

Auditors

Toru Oguchi Standing statutory auditor
Torao Yajima Standing statutory auditor (new appointment)
Yoshiro Yamamoto Outside statutory auditor
Tatsuhiro Ishikawa Outside statutory auditor
Kenji Miyahara Outside statutory auditor

Executive officers

Hiroshi Komatsu Managing executive officer
John Lang Managing executive officer
Masataka Kamiyanagi Managing executive officer
Akihiko Sakai Executive officer
Akio Mori Executive officer
Kiyofumi Koike Executive officer
Ryuhei Miyagawa Executive officer
Koichi Endo Executive officer
Hiromi Taba Executive officer
Motonori Okumura Executive officer
Takashi Oguchi Executive officer
Yasumasa Kitamatsu Executive officer (new appointment)
Hideki Shimada Executive officer (new appointment)

About Epson
Epson is a global imaging and innovation leader whose product lineup ranges from inkjet printers and 3LCD projectors to sensors and other microdevices. Dedicated to exceeding the vision of its customers worldwide, Epson delivers customer value based on compact, energy-saving, and high-precision technologies in markets spanning enterprise and the home to commerce and industry.
Led by the Japan-based Seiko Epson Corporation, the Epson Group comprises more than 75,000 employees in 97 companies around the world, and is proud of its ongoing contributions to the global environment and the communities in which it operates.
http://global.epson.com/