OKI Announces Notice of Change in Presidency

Rhea-AI Summary

OKI (Tokyo: 6703) announced a leadership change on February 1, 2022, to enhance management agility amid the COVID-19 pandemic. Effective April 1, CEO Sinya Kamagami will focus on group-wide strategy, while Takahiro Mori will become President and COO, overseeing operations. This restructuring is part of OKI's Medium-Term Business Plan 2022, aiming for sustainable growth through AI edge technologies. A resolution regarding this change will be submitted to shareholders in late June 2022.

Positive

• Restructuring aims to strengthen management capabilities and decision-making processes.
• Focus on leveraging AI edge technologies aligns with industry trends.
• Leadership change may enhance operational oversight and strategic direction.

Negative

• None.

TOKYO--(BUSINESS WIRE)-- OKI (TOKYO: 6703) today announced that, at its meeting held on February 1, 2022, the OKI Board of Directors decided on a change in the presidency of the company.

Under its Medium-Term Business Plan 2022, OKI has positioned the three-year period from FY2020 through FY2022 as a time for implementing structural reforms and laying the foundations for sustained growth through solving social issues by leveraging its strengths in AI edge technologies and Mono-zukuri (manufacturing).

Effective April 1 of this year, in light of the accelerating pace of change brought about by the COVID-19 pandemic, the Board of Directors has decided to establish the posts of Chief Executive Officer (CEO) and Chief Operating Officer (COO) to accelerate decision-making and strengthen management capabilities. Accordingly, the new structure formed will see the Chairman, as CEO, assuming responsibility for Groupwide management strategies, while the President, as COO, will oversee business operations.

[Details of this change]

Name	Current title	April 1, 2022	Late June 2022*1
Sinya Kamagami	President, Representative Director	Representative Director Chairman and Chief Executive Officer	Representative Director Chairman and Chief Executive Officer
Takahiro Mori	Executive Officer Head of Business Collaboration Division, Components & Platforms Business Group	President and Chief Operating Officer	Representative Director President and Chief Operating Officer

*1		Resolution to be submitted to the 98th Ordinary General Meeting of Shareholders scheduled for late June 2022 and to the meeting of the Board of Directors on the same date

[Profile of the new President]

Name:		Takahiro Mori
Date of Birth:		August 29, 1964
Place of Birth:		Kanagawa
Career:
April 2021		Executive Officer, Head of Business Collaboration Division, Components & Platforms Business Group, Oki Electric Industry Co., Ltd. (Current)
April 2020		President, Oki Data Corporation and Executive Officer, Oki Electric Industry Co., Ltd.
October 2019		Managing Executive Officer, Head of Product Development and Business Division, and Head of Domestic Sales Division, Oki Data Corporation
April 2019		Managing Executive Officer and Head of Product Development and Business Division, Oki Data Corporation
October 2017		Director, Deputy Head of Product Development and Business Division, and Head of Office Printing Department, Oki Data Corporation
October 2016		Deputy Head of Product Development and Business Division and Head of Office Printing Department, Oki Data Corporation
April 2015		Deputy Head of Domestic Sales Division, Oki Data Corporation
January 2012		General Manager of Marketing Dept., Domestic Sales Division, Oki Data Corporation
November 2006		General Manager of Partner Business Dept, Domestic Sales Division, Oki Data Corporation
April 1988		Joined Oki Electric Industry Co., Ltd.
March 1988		Graduated from School of Business Administration, Meiji University

About Oki Electric Industry Co., Ltd. (OKI)
Founded in 1881, OKI is Japan's leading information and telecommunication manufacturer. Headquartered in Tokyo, Japan, OKI provides top-quality products, technologies, and solutions to customers through its Solution Systems business and Components & Platforms business. Its various business divisions function synergistically to bring to market exciting new products and technologies that meet a wide range of customer needs in various sectors. Visit OKI's global website at https://www.oki.com/.

Notes:
- Oki Electric Industry Co., Ltd. is referred to as "OKI" in this document.
- The names of the companies and products mentioned in this document are the trademarks or registered trademarks of the respective companies and organizations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220201006214/en/

Fumika Takagawa

Public Relations Division

Oki Electric Industry Co., Ltd.

press@oki.com

Source: Oki Electric Industry Co., Ltd.

FAQ

What leadership changes were announced by OKI on February 1, 2022?

OKI announced Sinya Kamagami will serve as CEO from April 1, 2022, with Takahiro Mori becoming President and COO.

How is OKI restructuring its management strategy?

OKI is establishing separate CEO and COO roles to improve decision-making and management effectiveness.

What is the timeline for the new leadership changes at OKI?

The new structure will be effective from April 1, 2022, with a resolution to be submitted to shareholders in late June 2022.

What is the Medium-Term Business Plan 2022 for OKI?

It focuses on implementing structural reforms and fostering growth through AI edge technologies from FY2020 to FY2022.

Who is the new President and COO of OKI?

Takahiro Mori will take over as President and COO, effective April 1, 2022.