NSG Group has announced that the following proposed changes to its Board of Directors and Executive Officers will take effect on 29 June 2023.
Proposed Changes, scheduled on 29 June (at the end of the 157th Ordinary General Meeting of Shareholders)
- Eriko Sakurai is proposed as External Director – he has no current appointment
- Shigeki Mori is proposed as Executive Officer and Chairperson of the Company – he is the current Director, Representative Executive Officer and Chairperson of the Company
- Tony Fradgley is retiring from the Board – he is the current Director, Senior Executive Officer and CTrO (Chief Transformation Officer)
The Company has its own criteria for independence of External Directors with respect to the relationship of that External Director, or a nominee thereof, with the NSG Group, its other Directors and Officers and/or major shareholders, taking into account the criteria of independence set out by the Tokyo Stock Exchange. Eriko Sakurai satisfies these criteria and is therefore nominated as Independent External Director.
Future arrangements
The proposed appointment of Eriko Sakurai is subject to shareholders’ approval and will be formally decided at the 157th Ordinary General Meeting of Shareholders which will be held on 29 June 2023.
With this appointment, the number of Independent External Directors would be five after the change, constituting a majority of the Board of Directors of seven members in total.
To download the full document, with also the proposed changes to the Executive Officers, click here.