Nidec Selects Five Persons to Serve as Executive Vice Presidents

Rhea-AI Summary

Nidec Corporation (OTC US: NJDCY) announced that an extraordinary meeting of its Board of Directors on March 10, 2023, led to the appointment of five new Executive Vice Presidents, effective April 1, 2023. These appointments align with the company's selection policy determined by the Nomination Committee. One of the new Executive Vice Presidents will be named President in April 2024. The executives include Toshiyuki Otsuka, Tatsuya Nishimoto, Yoshihisa Kitao, Toshihiko Koseki, and Mitsuya Kishida, all of whom bring diverse leadership roles within Nidec's various business units.

Positive

• Appointment of five new Executive Vice Presidents may enhance leadership and operational efficiency.
• Strategic selection aligns with the company's long-term governance and succession planning.

Negative

• None.

KYOTO, Japan--(BUSINESS WIRE)-- Nidec Corporation (TOKYO: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) announced today it has passed a resolution in an extraordinary meeting of the Board of Directors held on March 10, 2023 on five persons to be appointed to serve as the Company’s Executive Vice Presidents from April 1, 2023. They were selected based on the Company’s selection policy and criteria deliberated by the Nomination Committee. The Company will appoint one of these five Executive Vice Presidents as President effective in April 2024.

New Five Executive Vice Presidents (as of April 1, 2023) *In the order of joining the Nidec Group

No.	Name	New post as of April 01, 2023	Current post
1	Toshiyuki Otsuka	Executive Vice President Representative Director and President, Nidec Instruments Corporation	Representative Director and President, Nidec Sankyo Corporation
2	Tatsuya Nishimoto	Executive Vice President Executive General Manager of Nidec Machinery and Automation Business Unit Representative Director and President, Nidec Drive Technology Corporation	Representative Director and President, Nidec-Shimpo Corporation
3	Yoshihisa Kitao	Executive Vice President Executive General Manager of Group Companies Business Unit In charge of managing Small Platform Motor & Solutions Business Unit	First Senior Vice President Executive General Manager of Group Companies Business Unit
4	Toshihiko Koseki	Executive Vice President CTO, in charge of managing Nidec Product Technology R&D Center, Nidec Center for Production Technology R&D, Nidec System Manufacturing Engineering Center	First Senior Vice President CTO, in charge of managing Nidec Center for Industrial Science and Technology, Global Production Engineering Division
5	Mitsuya Kishida	Executive Vice President Executive General Manager of Automotive Motor & Electronic Control Business Unit	First Senior Vice President Executive General Manager of Automotive Motor & Electronic Control Business Unit CEO in Europe of Automotive Motor & Electronic Control Business Unit In charge of supervising Business in USA & Europe of Automotive Motor & Electronic Control Business Unit

More detailed information is available at:
https://www.nidec.com/-/media/www-nidec-com/corporate/news/2023/0313-01/230313-01e.pdf

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230312005066/en/

Masahiro Nagayasu

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Source: Nidec Corporation

FAQ

What recent leadership changes occurred at Nidec Corporation (NJDCY)?

On March 10, 2023, Nidec Corporation announced the appointment of five new Executive Vice Presidents effective April 1, 2023.

When will the new President of Nidec Corporation be announced?

The new President of Nidec Corporation will be appointed in April 2024 from among the newly appointed Executive Vice Presidents.

Who are the new Executive Vice Presidents of Nidec Corporation (NJDCY)?

The new Executive Vice Presidents are Toshiyuki Otsuka, Tatsuya Nishimoto, Yoshihisa Kitao, Toshihiko Koseki, and Mitsuya Kishida.