Hitachi shakes up management team

news
Mar 14, 20061 min

Company names new chairman, president

Hitachi Ltd. has shaken up its management team, naming a new chairman and a new president, the company announced Tuesday.

Etsuhiko Shoyama, the current president and chief executive officer (CEO), will become chairman, while Kazuo Furukawa becomes the new president. The appointments are effective April 1, Hitachi said.

Furukawa was formerly an executive vice president and the general manager of Hitachi’s corporate export regulation division, the company said. No successor for him was named.

The company also named Hiroaki Nakanishi as an executive vice president and chief executive for North America, and CEO of Hitachi Global Storage Technologies Inc.

Hitachi also announced a fiscal year-end dividend of 5.5 yen (US$0.046) per share, to be paid May 22, the company said.