Konica Minolta restructures Board and names new CEO
February 28, 2022
Konica Minolta, Inc. announced a change of President & CEO, Representative Executive Officer, effective 1 April 2022, with the resolution adopted at the Board of Directors meeting held on 24 February 2022.
Under the new structure, for the first time in Konica Minolta, an outside director will assume the position of Chairman of the Board and outside directors account for majority of the Board of Directors. It aligns the company’s initiatives to build and further advance a highly transparent system of governance that maintains a clear separation between supervisory and executive functions. Chikatomo Kenneth Hodo was nominated for Chairman of the Board.
Toshimitsu Taiko was named the new Director, President & CEO, Representative Executive Officer, replacing Shoei Yamana. Konica Minolta explained that turning around the Office and Production Print Businesses, as the company’s core businesses, as soon as possible, and further enhancing the Industry Business that drives earnings generation, Healthcare Business and Industrial Business are an urgent management issue.
Konica Minolta said: “In order to complete the medium-term business portfolio transformation and simultaneously resolve short-term issues, it is necessary to further strengthen execution capabilities and accelerate it.
“FY2022 is the final year of the Medium-term Business Plan “DX2022” and the year for formulating the next business plan. The decision has been made that, in enhancing the corporate value, it is appropriate to change President & CEO, Representative Executive Officer, at this timing so that the new President & CEO, Representative Executive Officer, will formulate new Medium-term Business Plan himself, lead the Group’s 40,000 global talent and maximise their execution capability.”
Toshimitsu Taiko said: “With the appointment of President & CEO, Representative Executive Officer, I feel so humbled by the great responsibilities in leading the company. After the integration of Konica and Minolta in 2003, I joined the executive team and have walked through Konica Minolta’s history. Konica Minolta has anticipated changes in society, transformed its business portfolio, and created social values. Today, again in the midst of the transformation, there is no change in our philosophy to deliver socially meaningful value on the basis of our sublime technological capabilities.
“Until FY2025, we will complete the transformation of our business portfolio. At the same time, I will listen sincerely to the opinions of our stakeholders, including customers, employees, communities, stockholders, and business partners, and improve Konica Minolta’s corporate value through dialogue. The company has strengthened its sustainability. We believe contributing to the realisation of a sustainable society where everyone can live with a purpose is the only way to achieve the sustainable growth of the company.
“Under our philosophy of “The Creation of New Value,” Konica Minolta has responded to social demands while pursuing the new value required in that age. Looking ahead to society in 2030 and beyond, I will lead Konica Minolta’s transformation into a company clearly committed to solving social issues and meet the expectations of our stakeholders by growing and thriving again.”
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Tags : Board of Directors Business Konica Minolta Restructuring
