Mitsubishi Electric Announces New Management Structure Effective April 1 and Changes in Representative Executive Officers, Executive Officers and Executive Officers(Associate)

Rhea-AI Summary

Mitsubishi Electric Corporation (TOKYO:6503) announced a new management structure effective April 1, 2022, following a Board of Directors meeting on February 17, 2022. This reorganization aims to advance the company’s integrated solutions strategy across the sectors of Life, Industry, Infrastructure, and Mobility. New Business Area (BA) Owners will oversee interconnected business groups, facilitating mergers, acquisitions, and strategic resource shifts. The changes intend to foster dynamic management reforms and create synergies across various business areas.

Positive

• New management structure aimed at strategic improvement.
• Creation of new Business Area Owners to enhance oversight and drive synergies.

Negative

• None.

TOKYO--(BUSINESS WIRE)-- Mitsubishi Electric Corporation (TOKYO:6503) announces that a new management structure will be adopted and the executive officer structure and division of duties will be changed effective April 1 2022, pursuant to a resolution passed during a regular meeting of the Board of Directors held on February 17, 2022. The Company also announces Executive Officers (Associate) to be newly appointed on the same date.

1. Management Structure

In order to accelerate the Company’s corporate strategy to provide Integrated Solutions to address social challenges in the four fields of Life, Industry, Infrastructure and Mobility, uniting all the capabilities inside and outside of the Group, as well as to develop and drive business strategies with company-wide and medium- to long-term perspectives by maintaining a bird’s-eye view on a wide range of business domains, from FY2022, the Company will assign new Business Area (BA) Owner responsibilities to Executive Officers, who will oversee multiple interconnected business groups with a social challenge as the focal point.

BA Owners will, from a company-wide perspective, facilitate the acceleration of M&As and business restructuring in business groups within their purview. Moreover, they will drive the creation of new businesses, enhancement of technological and business fields, and strategic shifting of resources with a bird’s-eye view of their respective BA. Furthermore, the Company will drive dynamic and speedy management reforms that break free from the conventional business group structure, such as BA Owners jointly creating synergies across the boundaries of BAs with a company-wide perspective.

For the full text, please visit: www.MitsubishiElectric.com/news/

View source version on businesswire.com: https://www.businesswire.com/news/home/20220216006317/en/

Media Inquiries

Takeyoshi Komatsu

Public Relations Division

Mitsubishi Electric Corporation

Tel: +81-3-3218-2346

prd.gnews@nk.MitsubishiElectric.co.jp

www.MitsubishiElectric.com/news/

Source: Mitsubishi Electric Corporation

FAQ

What changes has Mitsubishi Electric Corporation made to its management structure?

Mitsubishi Electric Corporation announced a new management structure effective April 1, 2022, introducing Business Area Owners to oversee interconnected business groups.

When was the decision for the new management structure made by Mitsubishi Electric Corporation?

The decision for the new management structure was made during a Board of Directors meeting held on February 17, 2022.

What is the purpose of the new Business Area Owners at Mitsubishi Electric Corporation?

The new Business Area Owners aim to accelerate mergers and acquisitions, drive the creation of new businesses, and enhance strategic resource allocation across business areas.

What sectors will Mitsubishi Electric focus on with its new management structure?

The new management structure will focus on the sectors of Life, Industry, Infrastructure, and Mobility.