News Release

Change of Representative Director and Executive Personnel Structure as a Company with an Audit & Supervisory Committee

- TOKYO, Japan, April 28, 2016 -

Seiko Epson Corporation (TSE: 6724, "Epson") announces that it resolved, at the meeting of its Board of Directors held on April 28, 2016, the following executive personnel changes. The changes are subject to approval at the 74th Ordinary General Meeting of Shareholders, Board of Directors' Meeting and/ or Audit & Supervisory Committee Members' Meeting scheduled to be held on June 28, 2016.

Epson has also decided on its Executive Officers and Special Audit & Supervisory Officer appointments to take effect from June 28.

1. Reason for executive personnel and organization changes

As it looks to achieve its Epson 25 Corporate Vision and Mid-Range Business Plan (FY2016-2018), Epson has decided to transition to a company with an Audit & Supervisory Committee as it believes this is the best means by which it can exercise corporate governance that facilitates decision making that is transparent, fair, timely and decisive. Epson believes that the following management structure represents the optimum means by which Epson can ensure ongoing growth and improve corporate value over the mid-to long-term.

2. Retirement and appointment of representative director

Name New Current
Noriyuki Hama Director; Full-Time Audit & Supervisory Committee Member Senior Managing Director (representative director)
Shigeki Inoue Director; Senior Managing Executive Officer (representative director) Managing director

Background of newly appointed representative director

Shigeki Inoue
(born October 10, 1955)
  • April 1979: Joined Suwa Seikosha Co., Ltd. (currently Seiko Epson Corporation)
  • June 2011: Appointed Executive Officer
  • June 2012: Appointed Director
  • June 2014: Appointed Managing Director (current position)
  • December 2015: Chief Operating Officer, Wearable Products Operations Division (current position)
  • April 2016: Appointed General Administrative Manager, Corporate Planning Division (current position)
Currently holds: 17,700 shares

3. Retirement and appointment of directors

Retirements

  • Motonori Okumura

    Current position: Director; General Administrative Manager, Second Technology Development Division
    * Retirement due to expiry of term. To be appointed executive officer from the same date.

  • Junichi Watanabe

    Current position: Director; Chief Operating Officer, Visual Products Operations Division; General Administrative Manager, Production Planning Division
    * Retirement due to expiry of term. To be appointed executive officer from the same date.

  • Toshiharu Aoki

    Current position: Director (outside director)
    * Retirement due to expiry of term.

Appointments

  • Tatsuaki Seki

    Director, Executive Officer (current position: Deputy General Administrative Manager, Management Control Division)

  • Mari Matsunaga

    Director (outside director)

  • Michihiro Nara

    Director (outside director), Audit & Supervisory Committee Member (current position: Audit & Supervisory Board Member (outside))

  • Chikami Tsubaki

    Director (outside director), Audit & Supervisory Committee Member

  • Yoshio Shirai

    Director (outside director), Audit & Supervisory Committee Member

4. Retirement of auditors

Retirements

  • Kenji Kubota

    Current position: Full-Time Audit & Supervisory Board Member

  • Yoshiro Yamamoto

    Current position: Audit & Supervisory Board Member (outside)

  • Kenji Miyahara

    Current position: Audit & Supervisory Board Member (outside)

  • Michihiro Nara

    Current position: Audit & Supervisory Board Member (outside)
    * All four Audit & Supervisory Board members will retire from their positions due to expiry of terms as Epson transitions to a company with an Audit & Supervisory Committee. Michihiro Nara will be appointed as Director (outside director), Audit & Supervisory Committee Member from the same date.

5. Retirement and appointment of executive officers

Retirement

  • John Lang

    Current position: Managing Executive Officer; President and Chief Executive Officer, Epson America, Inc.
    * Retirement due to expiry of term.

Appointments

  • Motonori Okumura

    Executive Officer (current position: Director; General Administrative Manager, Second Technology Development Division)

  • Junichi Watanabe

    Executive officer (current position: Director; Chief Operating Officer, Visual Products Operations Division; General Administrative Manager, Production Planning Division)

  • Munenori Ando

    Executive Officer (current position: President, Epson (China) Co., Ltd.)

  • Hitoshi Igarashi

    Executive Officer (current position: Deputy Chief Operating Officer, Printer Operations Division)

  • Keith Kratzberg

    Executive Officer (current position: Senior Vice President, Epson America, Inc.)
    * To be appointed as President, Epson America, Inc. from the same date.

  • Isamu Otsuka

    Executive Officer (current position: President, Epson Atmix Corporation)

6. Appointment of Special Audit & Supervisory Officer

  • Taro Shigemoto

    Special Audit & Supervisory Officer (currently assigned to Management Control Division)

7. Planned date of changes and appointments

June 28, 2016

Note: Proposed appointments after June 28, 2016

1. Directors

Minoru Usui President (representative director)
Shigeki Inoue Director, Senior Managing Executive Officer (representative director) (promotion)
Yoneharu Fukushima Director, Managing Executive Officer
Koichi Kubota Director, Managing Executive Officer
Masayuki Kawana Director, Executive Officer
Tatsuaki Seki Director, Executive Officer (new appointment)
Hideaki Omiya Director (outside director)
Mari Matsunaga Director (outside director) (new appointment)
Noriyuki Hama Director, Full-Time Audit & Supervisory Committee Member
Michihiro Nara Director (outside director), Audit & Supervisory Committee Member (new appointment)
Chikami Tsubaki Director (outside director), Audit & Supervisory Committee Member (new appointment)
Yoshio Shirai Director (outside director), Audit & Supervisory Committee Member (new appointment)

Total: 12

2. Executive officers

Tadaaki Hagata Managing Executive Officer
Motonori Okumura Executive Officer (new appointment)
Junichi Watanabe Executive Officer (new appointment)
Kiyofumi Koike Executive Officer
Yasumasa Kitamatsu Executive Officer
Hideki Shimada Executive Officer
Masayuki Kitamura Executive Officer
Akihiro Fukaishi Executive Officer
Sunao Murata Executive Officer
Yoshiyuki Moriyama Executive Officer
Toshiya Takahata Executive Officer
Tsuyoshi Kitahara Executive Officer
Naoyuki Saeki Executive Officer
Nobuyuki Shimotome Executive Officer
Kazuyoshi Yamamoto Executive Officer
Munenori Ando Executive Officer (new appointment)
Hitoshi Igarashi Executive Officer (new appointment)
Keith Kratzberg Executive Officer (new appointment)
Isamu Otsuka Executive Officer (new appointment)

Total: 19

3. Special Audit & Supervisory Officer

Taro Shigemoto Special Audit & Supervisory Officer (new appointment)

About Epson
Epson is a global technology leader dedicated to connecting people, things and information with its original efficient, compact and precision technologies. With a lineup that ranges from inkjet printers and digital printing systems to 3LCD projectors, smart glasses, sensing systems and industrial robots, the company is focused on driving innovations and exceeding customer expectations in inkjet, visual communications, wearables and robotics.
Led by the Japan-based Seiko Epson Corporation, the Epson Group comprises more than 67,000 employees in 90 companies around the world, and is proud of its contributions to the communities in which it operates and its ongoing efforts to reduce environmental impacts.
http://global.epson.com/


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