TOKYO, Japan, April 1, 2015 — Renesas Electronics Corporation (TSE: 6723, Renesas), a premier supplier of advanced semiconductor solutions, today made the following decisions at the meeting of the Board of Directors held on April 1, on the nomination of part of the candidates for the Member of the Board to be submitted for approval at the Ordinary General Shareholders’ Meeting in June 2015, and the change in its Representative Director to become effective at a meeting of the Board of Directors scheduled after the Ordinary General Shareholders’ Meeting.
1. Reason for the Change
Having achieved a remarkable success on its structural reforms based on the Group’s Reform Plan, Renesas is now focusing on strengthening its ability to offer semiconductor solutions globally in order to achieve future growth. To further accelerate these efforts will require a new leader possessing abundant knowledge and experience. A decision has therefore been made to appoint a new Representative Director, Chairman and CEO, subject to approval by the Ordinary General Shareholders’ Meeting and the Board of Directors. By changing the gears toward growth under new leadership, Renesas aims to increase its corporate value still further.
2. Outline of the Change
| Name | New Title | Current title |
|---|---|---|
| Takao Endo | Representative Director, Chairman and CEO | Executive Adviser to CEO |
| Hisao Sakuta | Resign | Representative Director, Chairman and CEO |
3. Brief Biography of the New Representative Director
4. Schedule
The nomination of a candidate of the Member of the Board is planned to be approved at the Ordinary General Shareholders’ Meeting scheduled in June 2015. The new Member of the Board will then be officially appointed as Representative Director at a meeting of the Board of Directors held afterward. Note that any additional executive personnel changes will be announced once confirmed information is available.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, and YouTube.
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