Nishimuro to take helm of Japan Post

Kyodo

Japan Post Holdings Co. said Wednesday it will appoint former Toshiba Corp. Chairman Taizo Nishimuro as its president to replace Atsuo Saka as part of a large-scale management reshuffle.

Nishimuro, 77, currently serves as chairman of a committee to oversee progress in the privatization of the postal system.

Japan Post also will replace all outside directors and reduce five board members to a total of 13.

The decisions are subject to approval at a general meeting of Japan Post shareholders on June 20.

In the coming board reshuffle, Chairman Takashi Nishioka will step down with the chairman’s seat left vacant.

Former Vice Minister for Internal Affairs and Communications Yasuo Suzuki and former Mitsui Fudosan Co. Vice President Tatsuo Soda will be named vice presidents at Japan Post.

The seven planned new outside directors include Nippon Steel & Sumitomo Metal Corp. adviser Akio Mimura, Canon Inc. Chairman Fujio Mitarai and former Kyodo News special adviser Tadashi Yagi.