Tokyo - DENSO CORPORATION today announced plans to formally elect Koichi Fukaya as new president and CEO after the annual shareholders meeting in June.
Current President and CEO Hiromu Okabe will be promoted to vice chairman and Akira Takahashi will remain as chairman.
In his new role, Fukaya will set company objectives and focus on all aspects of corporate, financial and manufacturing areas as well as strengthen relationships with customers, suppliers, shareholders and employees.
"I am both honored and determined to lead DENSO to further success as we face the many challenges ahead of us in this century's automotive supplier. I am dedicated to strengthening the company's global network to provide high quality products at competitive costs with the support of our associates worldwide," Fukaya said. "I believe it will be an essential part of my job as president to ensure company transparency with customers, suppliers, shareholders, employees and society."
Since June 2002, Fukaya has been senior managing director of DENSO's Production Promotion Center. His responsibilities included strategic planning and implementation of production technologies of all DENSO Group manufacturing.
First appointed to the Board of Directors in March 1995 while serving as president of DENSO Manufacturing Michigan, Inc. in Battle Creek, Mich., Fukaya was again promoted to managing director responsible for DENSO's largest product group, Thermal Systems.
Since joining DENSO in 1966, he has served as general manager of the Production Engineering and the Production Engineering Research & Development departments.
"Fukaya is the type of leader who sees many sides to every issue and makes decisions quickly," said Hiromu Okabe, current president and CEO of DENSO Corporation. "His knowledge of production engineering, product group management and his international leadership experience made him my top choice to lead DENSO."
A complete list of Board of Director and Auditor changes are attached below.
DENSO CORPORATION, headquartered in Kariya, Aichi prefecture, Japan is a leading global supplier of advanced technology, systems and components. Worldwide, the company employs 87,000 people in 31 countries, including Japan. Consolidated global sales for the fiscal year ended March 31, 2002 totaled US$18.1 billion(*1)(2,401.1 billion yen or 20.7 billion Euros). DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges.
*1: Figures for the fiscal year ended March 31, 2002 include the effect of an irregular 15-month reporting period, due to 45 overseas subsidiaries and overseas affiliates changing their year ends to March 31 from December 31.
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