2. Reforming Corporate-level Decision-making
In line with the new ten-in-one system, sweeping changes were also made in the corporate level decision-making system and in the organization of the Head Office. The functions of the Executive Committee, Vice-President Committee and the like were consolidated in the new Senior Executive Committee. In its semimonthly meetings, this Committee will focus on corporate strategies related to restructuring, intercompany alliances and other high-level affairs. It consists of the Chairman, Vice Chairman, President and Vice Presidents as regular members, with specifically concerned officers attending as necessary. The Committee's small size and sharp focus on key issues will enable it to conduct in-depth studies and come to efficient and timely decisions.
The Board of Directors is to be cut from 30 members to 14, a size more appropriate for its companywide decision-making and supervision functions. As this change requires shareholder approval, it will go into effect following the Regular General Meeting of Shareholders in June. |
