Toyo Nominates New President, Chairman

Toyo Nominates New President, Chairman

Toyo Tire & Rubber Co. has appointed Katsumi Komaguchi as its new chairman and Takashi Shimizu as president. Approval of the nominees will be voted on in a special extraordinary meeting of shareholders on Nov. 12, the company said.

Komaguchi and Shimizu will replace Akira Nobuki and Takuji Yamamoto who resigned following the company’s earthquake bearing scandal.

Komaguchi will join Toyo in mid-October as an advisor, and upon gaining shareholder approval will become chairman of the board. Previously, Komaguchi served as representative director and deputy chairman at Kyocera Document Solutions Inc.

Shimizu, who is the current general manager of Toyo’s North American business, will take over the role of general manager of Toyo’s Seismic Isolation Rubber Division in addition to his role as company president, Toyo said.

The Board of Directors will also vote on the appointment of four additionally directors at the special meeting.

     

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