Tokyo, Japan-based Toshiba Corporation's board of directors has accepted a proposal from its Nominating Committee that Tadashi Okamura, Toshiba's current president and CEO, be nominated as a candidate for president and CEO of the company for the coming term.
The 1-year term will run from the date of the board meeting to be held immediately after the general meeting of the shareholders in late June.
In 2003, Toshiba enhanced its corporate governance, including operating transparency and managerial supervisory functions, by adopting the "Company with Committee" system. The Nominating Committee was established at that time and has a majority of outside directors.
In making its recommendation, the three-member committee agreed that Toshiba's key management challenges are to ensure continued promotion of renovation programs and to establish solid ground for sustained growth. The committee noted the contributions that Mr. Okamura has already made in this regard and advocated that he should continue to carry out his current responsibilities.
Mr. Okamura's graduated from Faculty of Law, The University of Tokyo in 1962 and joined the Toshiba Corp. that same year. In 1994, he became vice president and director for the company. In June 2003, he was appointed as director and president and CEO.
to Daily News