NSG Group Board Appointments
23 April 2008Mark Lyons, President Building Products Worldwideand Keiji Yoshikawa, recently appointed President Specialty Glass Worldwide, join the NSG Group Board as executive directors as a new board structure is put in place.
Two new external directors complete the lineup. Isao Uchigasaki is a former President of Hitachi Chemical Co Ltd and is currently director of Hitachi Ltd.
Dr George Olcott, a fluent Japanese speaker, worked for a leading investment bank in Japan. He is now an academic at Cambridge University Business School, with a PhD in the organization of Japanese companies.
Three board committees (Audit, Nomination and Remuneration) and four outside directors replace the former ‘external auditors’ model. Yozo Izuhara will also chair the Nomination Committee. Noritaka Kurauchi and Kozo Okumura, currently external directors, remain on the Board.
Yozo Izuhara said. “The adoption of the ‘Company with Committees’ model brings our Group into line with a growing number of progressive Japanese corporations. It introduces additional safeguards for shareholders, increases transparency and improves corporate governance”.
“Under the new system, the role of the external directors is strengthened and I’m delighted to welcome Isao Uchigasaki and Dr George Olcott to the Board. They bring extensive skills and experience from industry and banking and I have no doubt that they will make a major contribution to the work of the Board”.
The changes will take effect on 27th June 2008, following the Annual Shareholders’ Meeting.
See separate story on senior management appointment