Canon Inc. announces director changes
February 8, 2024
This latest announcement was released on 5 February 2024, to revise a previous annoucnement released on 7 September 2023.
Canon Inc. announced that the company’s Board of Directors approved the following appointment and retirement of directors at the Board Meeting held today. This change is to be formally approved at the Ordinary General Meeting of Shareholders in March, 2024.
The purpose of this change is to further strengthen the management structure of the company.
Newly appointed directors are Kazuto Ogawa, Hiroaki Takeishi, Minoru Asada, Masayuki Ikegami, Masaki Suzuki and Akiko Ito. Kunitaro Saida, an outside director, is retiring.
Fifteen years have passed since Canon introduced the executive officer system in 2008. The number of directors, which was twenty-five at the time of the introduction, has been gradually reduced since then with the aim of achieving prompt and flexible management. The number of directors currently stands at five, consisting of three directors from within the company and two outside directors.
During this period, the company has gradually increased the number of executive officers that are in charge of business execution. Now, Canon has decided to strengthen the functions of the Board of Directors that oversees business execution by increasing the number of directors, with the aim of strengthening the ability of the board to respond to issues such as the changing business portfolio of the company, expansion of business scope, and diversification of growth areas, in addition to enhancing the skills and development of the next generation of management.
For this purpose, the company intends to promote new personnel who have made significant achievements in overseas business, advanced technology, and finance from within the company to directors and strengthen the execution supervision function of the Board of Directors, with the most important criterion being that they have the ability and experience that match the required capabilities of the Board of Directors.
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