Tokyo, Japan—Tosoh Corporation is pleased to announce that it will introduce an executive officer system and reassign directors. The decision to implement this system follows a meeting of the Board of Directors on May 10, 2016. Formal approval of the new system is expected to occur at the 117th general meeting of shareholders scheduled for June 29, 2016, and at the Board of Directors meeting to be convened immediately thereafter on that date.
The executive officer system will raise the speed and efficiency of decision making at Tosoh by separating management’s decision-making and supervisory functions, facilitating a quicker response to rapid changes in Tosoh’s business environment. It will also promote greater transparency in management roles and responsibilities.
The implementation of the system will involve the appointment, the retirement, and the reassignment of directors to executive officers and other management responsibilities by resolution of the Board of Directors. It will allow directors to serve concurrently as executive officers and to remain as executive officers for a term of one year.
The reorganization of directors is as follows:
Reorganization of Directors and Auditors |
| | New director (external) candidate: |
| | Name | Current Title |
| | Kenji Ogawa | Taiheiyo Cement Corporation, Director
|
| | New substitute auditor (internal) candidate: |
| | | Name | Current Title(s) |
| | | Yasuhiko Tanaka | Taihei Chemicals Limited, Substitute Auditor;
Plas-Tech Co., Ltd., Substitute Auditor
|
| | Retiring directors: |
| | | Name | Current Title(s) |
| | | Kenichi Udagawa | Director and Corporate Adviser* |
| | | Masayuki Yamada | Director
(also Bioscience Business Division, Senior General Manager and Planning and Business Development General Manager)†
|
| | | Nobuaki Murashige | Director
(also Yokkaichi Complex, Senior General Manager) †
|
| | | Hiroto Murata | Director (External Director)
|
| | | *Kenichi Udagawa is scheduled to assume his duties as corporate adviser in late June 2016. †Masayuki Yamada and Nobuaki Murashige are likewise scheduled to assume their duties as senior vice presidents in late June 2016 (see below). |
|
Reorganization of Associate Directors (as of May 10, 2016) |
| | Newly appointed associate directors: |
| | | Name | Current Title |
| | | Akira Tokunaga | Deputy Director
(also Kasumi Engineering Inc., Senior Managing Director) |
| | | Kazumasa Kobayashi | Deputy Director
(also Tosoh Fine Chemicals Inc., Director; Tosoh F-Tech Inc., Director; and Tosoh Organic Chemical Co., Ltd., Director) |
|
Reorganization of Associate Directors (as of June 29, 2016) |
| | Retiring associate directors: |
| | | Name | Current Title |
| | | Yutaka Teshima | Associate Director
(also Tosoh Corporation Technology Center, General Manager)* |
| | | Kouji Iwaya | Associate Director
(also Nanyo Complex, Deputy General Manager and General Manager of Facility Management)* |
| | | Masakazu Marunaka | Associate Director
(also Taiyo Vinyl Corporation, Managing Director) |
| | | Tetsuji Saeki | Associate Director
(also Nanyo Complex, Deputy Senior General Manager and Administration General Manager)* |
| | | Akira Tokunaga | Associate Director
(also Kasumi Engineering Inc., Senior Managing Director) |
| | | Kazumasa Kobayashi | Associate Director
(also Tosoh Fine Chemicals Inc., Director; Tosoh F-Tech, Inc., Director; Tosoh Organic Chemicals Co., Ltd., Director) |
| | | *In late June 2016, Yutaka Teshima will be promoted to president of Tosoh SGM Corporation, Kouji Iwaya will be promoted to president of Sanwa Construction, and Tetsuji Saeki will be promoted to president of Tosoh Logistics Corporation. |
The following shows the complete organization of directors at Tosoh following the June 29, 2016, introduction of the executive director system.
Organization of Directors Subsequent to Introduction of the Executive Officer System
| Directors and Executive Vice Presidents: |
| Name | New Title | Current Title |
| Toshinori Yamamoto | Representative Director, President | Representative Director, President |
| Sukehiro Itoh | Representative Director, Executive Vice President | Representative Managing Director |
| Masaki Uchikura | Director, Executive Vice President | Managing Director |
| Keiichiro Nishizawa | Director, Executive Vice President | Managing Director |
| Katsushi Tashiro | Director, Executive Vice President | Managing Director |
| Kouji Kawamoto | Director, Executive Vice President | Director |
| Directors: |
| Name | New Title | Current Title |
| Tsutomu Abe | Director (External Director) | Director (External Director) |
| Kenji Ogawa | Director (External Director) | Taiheiyo Cement Corporation, Director |
| Auditors: |
| | Name | New Title | Current Title |
| Katsumi Ishikawa | Standing Audit and Supervisory Board Member | Standing Audit and Supervisory Board Member |
| Eiji Inoue | Standing Audit and Supervisory Board Member | Standing Audit and Supervisory Board Member |
| Tetsuya Teramoto | External Audit and Supervisory Board Member | External Audit and Supervisory Board Member |
| Tsuneyasu Ozaki | External Audit and Supervisory Board Member | External Audit and Supervisory Board Member |
| Vice Presidents: |
| Name | New Title | Current Title |
| Masayuki Yamada | Vice President | Director |
| Nobuaki Murashige | Vice President | Director |
| Shingo Tsutsumi | Vice President | Associate Director |
| Etsuya Ikeda | Vice President | Associate Director |
| Yutaka Nakamura | Vice President | Associate Director |
| Akira Ohmura | Vice President | Associate Director |
| Katsumi Mineshige | Vice President | Associate Director |
| Noriaki Ohshima | Vice President | Associate Director |
| Yutaka Kohmoto | Vice President | Associate Director |
| Toshinori Hayashi | Vice President | Associate Director |
| Noriaki Hajima | Vice President | Associate Director |
| Nobuhiro Ogawa | Vice President | Associate Director |
| Mamoru Kuwada | Vice President | Associate Director |
| Akihiro Aiiso | Vice President | Associate Director |
| Masao Nakano | Vice President | Associate Director |
| Jun Oyamada | Vice President | Associate Director |
| Yoshiyuki Uchiyama | Vice President | Associate Director |
| Akira Hironaga | Vice President | Associate Director |
| Masanobu Kasai | Vice President | Associate Director |
| Haruhisa Nishi | Vice President | Deputy Director |
| Shunya Shinohara | Vice President | Deputy Director |
| Hisaoki Harada | Vice President | Deputy Director |
| Masayuki Kudo | Vice President | Deputy Director |
| Toru Adachi | Vice President | Deputy Director |
TOSOH CORPORATION
WHO WE ARE
Tosoh is the parent of the Tosoh Group, which comprises over 100 companies worldwide and a multiethnic workforce of over 12,000 people and generated net sales of ¥753.7 billion (US$6.3 billion at the average rate of ¥120.15 to the US dollar) in fiscal 2016, ended March 31, 2016.
WHAT WE DO
Tosoh is one of the largest chlor-alkali manufacturers in Asia. The company supplies the plastic resins and an array of the basic chemicals that support modern life. Tosoh’s petrochemical operations supply ethylene, polyethylene, and functional polymers, while its advanced materials business serves the global semiconductor, display, and solar industries. Tosoh has also pioneered sophisticated bioscience systems that are used for the monitoring of life-threatening diseases. In addition, Tosoh demonstrates its commitment to a sustainable future in part by manufacturing a variety of eco-products.
Stock Exchange Ticker Symbol: 4042
DISCLAIMER
This document may contain forward-looking statements, including, without limitation, statements concerning product development, objectives, goals, and commercial introductions, which involve certain risks and uncertainties. Forward-looking statements are identified through the use of the word anticipates and other words of similar meaning. Actual results may differ significantly from the results expressed in forward-looking statements.