Hitachi Announces Selection of Director Candidates Aimed at Strengthening Global Expansion of Digital Business

Mar 30, 2020 18:01 JST

Source: Hitachi, Ltd.

To become a global leader in the Social Innovation Business, three new director candidates have been selected.

TOKYO, Mar 30, 2020 - (JCN Newswire) - Hitachi, Ltd. (TSE: 6501) today announced that director candidates to be proposed at its annual general meeting of shareholders in 2020, in accordance with a resolution at a meeting of Nominating Committee that convened today.

Under the 2021 Mid-Term Management Plan, Hitachi is strengthening global expansion of Lumada digital solutions, aiming to become a global leader in the Social Innovation Business. With respect to director candidates for this year, we have selected three new candidates in addition to 10 re-nominated candidates with an eye on achieving management that contributes to raising social, environmental and economic values, business expansion in the important Indian market and strengthening of the Digital Solution Business. Working with the United Nations Children's Fund, Ravi Venkatesan is currently dedicated to helping young people gain access to education. He was the Chairman of Microsoft Corporation (India) Private Limited and led its initiatives for business expansion in India. Helmuth Ludwig was the CIO of Siemens AG and strongly promoted digital transformation at the company by leveraging his extensive experience in software and industrial areas. Hideaki Seki has been involved in manufacturing at Hitachi for many years and has promoted the global expansion of the Elevator & Escalator Business and Automotive Systems Business.

As a company with a nominating committee, Hitachi has enforced the demarcation of management oversight and execution, aiming to create a framework for quick business operation and make management highly transparent. Currently, eight of the 11 directors are outside directors with experience as a global corporate manager, a legal manager and an analyst. Their global and diverse perspectives are reflected in the management and are helping to strengthen our supervisory functions.

When the director candidates for this year are approved at the annual general meeting of shareholders, 10 of the 13 directors will be outside directors and six will be non-Japanese outside directors. By further enhancing corporate governance with the addition of the new directors who are expected to offer global and diversified insight and knowledge, Hitachi is committed to accelerating the global expansion of the Social Innovation Business and to realize more transparent corporate management that emphasizes our social, environmental and economic values.

For the full press release visit http://www.hitachi.com/New/cnews/month/2020/03/f_200330.pdf.

About Hitachi, Ltd.

Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is focusing on Social Innovation Business that combines information technology (IT), operational technology (OT) and products. The company's consolidated revenues for fiscal 2019 (ended March 31, 2020) totaled 8,767.2 billion yen ($80.4 billion), and the number of employees was approximately 301,000 worldwide. Hitachi delivers digital solutions utilizing Lumada in five sectors including Mobility, Smart Life, Industry, Energy and IT, to increase social, environmental and economic values of its customers. For more information on Hitachi, please visit the company's website at https://www.hitachi.com.

Source: Hitachi, Ltd.
Sectors: Electronics, Enterprise IT