Nidec's CEO Shigenobu Nagamori, the company's founder and Chairman, is replaced by Jun Seki, President.

Nidec Corporation, a major electronic components manufacturer headquartered in Kyoto, Japan, held a meeting of its board of directors after its general shareholders' meeting and officially decided that its founder, Chairman Shigenobu Nagamori, will step down as CEO and be replaced by President Jun Seki.

On April 22, Nidec Corporation held a general meeting of shareholders in Kyoto City's Minami Ward. About 200 shareholders attended the meeting, where Chairman Nagamori reported a personnel plan to replace the position of CEO (Chief Executive Officer) with that of President Jun Seki, which was announced in April of this year.

After this, the company held a board of directors meeting to make this change official.

The new CEO, President Seki, will work on current management issues, while Mr. Nagamori will remain as Chairman with representative authority and will be involved in important management decisions.

At a press conference with President Seki, Nagamori said, "I believe that he is the only one who can surpass me as a successor. I would like to support him as we work together as a team.

President Seki said, "I think this is one of the most difficult successions in Japan, but I want to work toward the growth of sales to 10 trillion yen.

Mr. Nagamori, 76 years old, expressed his enthusiasm for future activities, saying, "I would like to visit factories and work on human resource development.

Source: https://www3.nhk.or.jp/news/html/20210622/k10013097701000.html?utm_int=news-business_contents_list-items_001