DIC Corporation hereby announces the following changes in its Representative Directors pursuant to a resolution adopted at the meeting of its Board of Directors held Jan. 23, 2012. These changes will be implemented to rejuvenate management with the aim of revitalizing the company and spurring a dramatic improvement in business performance.
Changes of Representative Directors (will go into effect April 1, 2012)
• New Representative Directors:
• Yoshiyuki Nakanishi (current position: director and executive officer); Mr. Nakanishi will also assume the positions of president and CEO.
• Masayuki Saito (current position: director and managing executive officer); Mr. Saito will also assume the position of senior managing executive officer.
• Resigning Representative Directors:
• Kazuo Sugie (current position: representative director, president and CEO); Mr. Sugie will resign as representative director, president and CEO and assume the position of director and chairman of the board. (Dr. Koji Oe, currently director and chairman of the board, will resign as chairman of the board effective April 1, 2012, and as director effective the date of the next ordinary general meeting of shareholders, to be held in June 2012).
• Kaiji Yamaki (current position: representative director and executive vice president); Mr. Yamaki will resign as representative director and executive vice president and assume the position of advisor. He will resign as director and advisor effective the date of the next ordinary general meeting of shareholders, to be held in June 2012.
Mr. Nakanishi joined Dainippon Ink & Chemicals, Inc. (the present DIC Corporation) in April 1978, after graduating from Waseda University (Faculty of Commerce). In April 2006, he was named deputy division president of Coating Resins Division, and was promoted to president of the Functional Polymers Division in April 2008.
In April 2010, Mr. Nakanishi was selected to be executive officer, and placed in charge of the Corporate Strategy Division and Kawamura Memorial Museum of Art, and added the responsibilities of director in June 2011.
Mr. Saito joined Dainippon Ink & Chemicals, Inc. in April 1978 after graduating from Keio University (Faculty of Commerce). In January 2002, Mr. Saito was named general manager, Corporate Strategic Planning Department, and was promoted to managing director, DIC Asia Pacific Pte Ltd. in May 2004.
In April 2007, Mr. Saito was chosen to be general manager, Finance Department, and a year later was promoted to executive officer in charge of the Finance & Accounting Division. In June 2010, he added the responsibilities of director to his previous duties, and in April 2011, Mr. Saito was appointed as director and managing executive officer, in charge of the Finance and Accounting Division.