Selection of Board Member Candidates
Tokyo, Japan – At Sony Corporation’s recent Nominating Committee meeting, the following candidates were nominated as Members of Sony Corporation’s Board of Directors. The nominees are subject to the approval at the Ordinary General Meeting of Shareholders, to be held on June 18, 2019.
<Members of the Board>
The candidates for Members of the Board are as follows:
Kenichiro Yoshida --- Representative Corporate Executive Officer, President and CEO
Hiroki Totoki (**) --- Representative Corporate Executive Officer, Senior Executive Vice President, Chief Financial Officer
Shuzo Sumi (*) --- Chairman of the Board, Tokio Marine Holdings, Inc.
Tim Schaaff --- Chief Product Officer, Intertrust Technologies Corporation
Independent Startup Advisor
Former President, Sony Network Entertainment International LLC
Kazuo Matsunaga (*) --- Chairman of the Board, Mitsubishi Fuso Truck and Bus Corporation
Former Vice-Minister of Economy, Trade and Industry
Koichi Miyata (*) --- Chairman of the Board, Sumitomo Mitsui Financial Group, Inc.
Chairman of the Board, Sumitomo Mitsui Banking Corporation
John V. Roos (*) --- Former United States Ambassador to Japan
Founding Partner, Geodesic Capital
Eriko Sakurai (*) --- Chairman and CEO, Representative Director, Dow Toray Co., Ltd.
Kunihito Minakawa (*) --- Former Audit & Supervisory Board Member, Ricoh Company, Ltd.
Toshiko Oka (*) --- CEO, Oka & Company Ltd.
Sakie Akiyama (*) (**) --- Founder, Saki Corporation
Wendy Becker (*) (**) --- Non-Executive Director, Logitech International SA
Non-Executive Director, Great Portland Estates plc
Yoshihiko Hatanaka (*) (**) --- Representative Director, Chairman of the Board, Astellas Pharma Inc.
(*) An Outside Director who satisfies the requirements under Item 15, Article 2 of the Companies Act of Japan
(**)A new candidate for Member of the Board
<Candidate for Chairman of the Board>
Chairman of the Board --- Shuzo Sumi
*The Chairman of the Board will be officially appointed at the Board of Directors meeting to be held just after the General Meeting of Shareholders scheduled for June 18, 2019.
<Member of the Board scheduled to retire>
Kazuo Hirai --- Chairman, Sony Corporation
Osamu Nagayama --- Representative Director, Chairman, Chugai Pharmaceutical Co., Ltd.
Eikoh Harada --- Former Chairman, President and CEO, Representative Director, McDonald's Holdings Company (Japan), Ltd.
*While Kazuo Hirai will retire as Chairman, Sony Corporation, on June 18, 2019, he will continue to provide counsel as requested by Sony`s management team, acting as Senior Advisor for the Company.
Comment from Kenichiro Yoshida:
“Nagayama-san has served on Sony’s Board of Directors since June 2010, and since June 2013 has acted as Chairman of the Board. I want to extend to him my deepest gratitude for his tremendous contributions in further strengthening Sony’s corporate governance. Moving forward, under the supervision of our new Board of Directors, chaired by Sumi-san, we will continue to pursue management aimed at increasing Sony’s mid- to long-term corporate value. Hirai-san and I have been working on management reforms together since December 2013. While he will be retiring from both Chairman and our Board of Directors, we look forward to his continuing high-level support to Sony’s management that encompasses a breadth of diverse businesses.”
Comment from Kazuo Hirai:
“Since passing the baton of CEO to Yoshida-san last April, as Chairman of Sony, I have had the opportunity to both ensure a smooth transition and provide support to Sony’s management. I am confident that everyone at Sony is fully aligned under Yoshida-san’s strong leadership, and are ready to build an even brighter future for Sony. As such, I have decided to depart from Sony, which has been a part of my life for the past 35 years. I would like to extend my warmest gratitude to all our employees and stakeholders who have supported me throughout this journey.”
Comment from Osamu Nagayama:
“For the past six years, I have had the honor of serving as Chairman of Sony’s Board. In that time, Sony experienced periods of struggling financial performance, but the tireless efforts of Sony’s leadership team spearheaded by Hirai-san, and then by Yoshida-san, has remarkably improved Sony’s business performance. I believe it is time for Sony to shift its gears toward mid- to long-term growth. I feel great pride in having supported Sony’s corporate governance efforts, as Sony distinguishes itself by being at the forefront among Japanese corporations by ensuring a sophisticated Board composition, with the vast majority of seats being held by Outside Directors. Sony’s Board and the company’s leadership team, both seeking to achieve healthy checks and balances, are working together to increase Sony’s corporate value.”
Comment from Shuzo Sumi:
“Sony is a pioneer in corporate governance reform, and I feel a great responsibility as I receive the honor of being nominated Board Chairman. Moving forward, I would like to work together with the Board members -- each with diverse business backgrounds and who possess wealth of knowledge on corporate management -- and operate the Board from the perspective of our stakeholders, including our shareholders, to strive to sustainably enhance Sony’s corporate value.”
You can access the full press release here: https://www.sony.net/SonyInfo/News/Press/201903/19-029E/index.html
For further information: Corporate Communications & CSR Department Sony Corporation Sony.Prhq@jp.sony.com