Consumables
Announcement of Changes to Representative Directors (Chairman and President)
Monday 31. January 2011 - Toyo Ink Mfg. Co., Ltd. announces that a meeting of its Board of Directors held on January 17, 2011 unofficially decided to make the following changes to its representative directors.
Toyo Ink Mfg. Co., Ltd. announces that a meeting of its Board of Directors held on January 17, 2011 unofficially decided to make the following changes to its representative directors. Although the Company will change its trade name to “TOYO INK SC HOLDINGS CO., LTD.” on April 1, 2011, based on a plan to establish new companies through a corporate split, approved at the 172nd ordinary general meeting of shareholders held on June 29, 2010, the official adoption of the changes to the representative directors will be made by resolution at a meeting of the Board of Directors of Toyo Ink SC Holdings Co., Ltd. to be held on April 1, 2011.
Details of changes and promotion (planned on April 1, 2011)
Name Current position New position
Kunio Sakuma President and CEO Chairman and Representative Director
Katsumi Kitagawa Executive Vice President and COO President and CEO
Reasons for changes and promotion
In the 104 years since it was founded, the Company has achieved growth through its main business manufacturing and selling printing inks, while building an associated business in chemical products. The Company has been working to prepare for new growth through its centenary in 2007, through initiatives such as the expansion of its specialty chemical business, the development of a global market, and an evolution from materials to processing. As April 1, 2011 will mark the beginning of the holding company system to strengthen governance and the three-year medium-term management plan, the Company has decided to change its representative directors.
Incoming President Katsumi Kitagawa has worked in the production division, the engineering division, the planning division at head office, and the business divisions. He has been focusing on expanding business in Japan and overseas since he became the executive vice president and COO in June 2009. With strong and timely insights into new areas of growth for the Company, he is capable of exercising outstanding leadership in practice. Since his time in the planning division at head office, Mr. Kitagawa has been advancing reforms with incumbent President Kunio Sakuma, and should continue to drive rapid progress in this area also. Moving to the post of Chairman, Mr. Sakuma will assist in promoting the new growth strategies, while supporting the new president.
Profile of New President and CEO
Name: Katsumi Kitagawa
Date of birth: September 26, 1953 (57 years old)
Place of birth: Tokyo
Education: March 1977: Graduated from Keio University with Bachelor of Engineering
Career: April 1977: Joined Toyo Ink Mfg. Co., Ltd.
September 1977: Technology Division, Fuji Plant
April 1981: Engineering Division, Fuji Plant
June 1985: System Engineering Team Production Technology Division
March 1987: Planning Group, Engineering Division
November 1991: Corporate Planning Department
May 2000: General Manager of Corporate Planning Department
March 2002: General Manager of Kawagoe Factory, Polymer Business Division, Chemical Business Headquarters
March 2004: Deputy General Manager of Color Material Business Headquarters and General Manager of Plastic Colorants Division
June 2004: Appointed Operating Officer
June 2005: Appointed Director
June 2008: Appointed Director and Executive Operating Officer
April 2009: Appointed Executive Vice President and Director
June 2009: Appointed Executive Vice President and COO in charge of IR, Chairman of CSR Committee (to the present)
Number of Company shares owned: 31,000 shares (as of September 30, 2010)