Japan Tobacco Inc. (JT) (TSE: 2914) has announced certain planned board level changes. Mitsuomi Koizumi will step down as the Company’s President and Chief Executive Officer but remain as the Company’s Representative Director and Masamichi Terabatake will be appointed as the Company’s President and Chief Executive Officer. Both appointments are to be effective from January 1, 2018, and are subject to approval of resolutions at the Company’s Board of Directors’ meeting, scheduled for November 27, 2017.
Effective from March 27, 2018, it is planned that Mr. Koizumi will then resign as a Representative Director and step down from the Board. Mr. Terabatake will be appointed as a Representative Director and so will become the Company’s President, Chief Executive Officer and Representative Director. These appointments are subject to the ratification at the Ordinary General Meeting of Shareholders scheduled for March 27, 2018: and, approval of resolutions at the Company’s Board of Directors’ meeting immediately thereafter.
At present, Mr. Koizumi is the Company’s President and Chief Executive Officer and Representative Director, while Mr. Terabatake is the Deputy CEO and Executive Vice President, Business Development and Corporate Strategy of JTI (Japan Tobacco International).
“For 36 years, ever since I joined the company, I have strived for the diversification and globalization of the JT Group. During my time as President and CEO (3 terms, in total 5 years and 6 months), I have executed aggressive investments to strengthen the foundations of a global growth company. Another key area of focus for me has been development of our people, as our people are the most valuable assets of our Group” said Mr. Koizumi. [...]