Toshiba Outside Director Kobayashi to Step Down

Economy Society

Tokyo, June 19 (Jiji Press)--Yoshimitsu Kobayashi, former chairman of the Japan Association of Corporate Executives, or Keizai Doyukai, will step down as an outside director of Toshiba Corp. <6502>, it was learned Friday.

Kobayashi, 73, who is also chairman of Mitsubishi Chemical Holdings Corp. <4188>, will be succeeded by Osamu Nagayama, 73, honorary chairman of Chugai Pharmaceutical Co. <4519>.

The change will take place after Toshiba's annual shareholders' meeting, which is scheduled for July.

In September 2015, Kobayashi took up the position of an outside director for the Japanese electronics and machinery maker, following an accounting scandal at the company.

As the head of a nominating committee that can suggest the appointment and dismissal of Toshiba's president, Kobayashi has worked on reforming the company's corporate climate. He also serves as chairman of Toshiba's board.

[Copyright The Jiji Press, Ltd.]

Jiji Press