Nobuaki Kurumatani today took office as the first Chairman and CEO of Toshiba Corporation from outside the company in over 50 years. Kurumatani and Tsunakawa will together lead Toshiba Group.
Kurumatani succeeds in this responsibility Satoshi Tsunakawa, who has taken on a new role in Toshiba as Representative Executive Officer and President, and Chief Operations Officer (COO).
Kurumatani most recently served as President of CVC Asia Pacific Japan (CVC). Before joining CVC in May 2017, he was Deputy President and a Director of Sumitomo Mitsui Financial Group, one of the largest financial institutions in Japan, where his career was devoted to corporate planning, public relations and internal auditing. He is a graduate of the University of Tokyo, where he studied Economics.
Commenting on his appointment as Representative Executive Officer and Chairman and CEO, he said, “I am honored to be appointed CEO, and very much aware of the responsibilities I take on. Toshiba is not just any company. Its corporate DNA has realized countless Japan- and world-first technologies and products, made Toshiba a source of pride in Japan for nearly 145 years, and also made us a global leader.
“I believe that helping Toshiba back on its feet is my true calling. I am here at Toshiba to support change and transformation, and I see my role as to build on the company’s resilience and to lead its recovery. To secure growth, we must radically improve our earning power and reinforce our finances. We must move out of our comfort zone and promote fundamental reforms.”
The ppointment of Kurumatani follows the announcement of the new Digital Transformation Strategy Acceleration Division will develop strategies for Toshiba Group’s digital transformation; act as an incubator for digitization of the Group and its individual businesses; and design an IoT platform for Group management. It will promote a fundamental transformation of Toshiba into a group of companies able to maximize customer value through co-creation.
In parallel with the work of the new division, Toshiba Digital Solutions Corporation (TDSL), a Toshiba subsidiary, will develop and operate solutions that utilize IoT and AI, and Toshiba Digital & Consulting Corporation, which will be established as a subsidiary of TDSL on April 2, 2018, will work to create value with clients in the fields of social infrastructure, energy and mobility.
In a joint communication both the exiting and incomming President & CEO of the company said: “Over the last two years or so, in response to the accounting problem and the major losses in the overseas nuclear power projects, we have initiated extensive reforms in our system of corporate governance. These have tightened controls and made management more accountable. Most recently we have spun off our in-house companies as independent business entities, a move that clarifies their responsibilities to the market and their customers.
“Even with all these changes, our core values remain intact. As a Group, we remain committed to people and the future. We will continue to give top priority to life, safety and compliance. Through our business and CSR-based management, we will fulfill our social responsibilities and contribute to a sustainable future.
“We are deeply aware that the environment surrounding us is changing at an ever faster pace, driven by rapid developments in information and communications technology. In coming years, the world must overcome many complex problems, including population growth, environment issues, resource depletion and an ever-growing need for energy. Toshiba can draw on over 140 years of expertise and engagement and contribute solutions.
“Our primary focus now is on rebuilding Toshiba Group as a globally competitive organization. To do this we are focused on four business domains: Social Infrastructure at the core, along with Energy, Electronic Devices and Digital Solutions. We have long-standing technical strengths that we will apply to solutions to customers’ problems. And we will sow and cultivate the seeds of next generation businesses. We will create value that meets the needs of the age.”
Toshiba’s net sales declined in 2017 for the 2nd year in a row from Y5,699,055 million in 2016 to Y4,870,773. The Group posted income loss at Y225,531 million in the latest fiscal year.
Image over the headline.- Nobuaki Kurumatani (Chairman and CEO Toshiba Corp) -left- and Satoshi Tsunakawa (President and COO Toshiba corp.). © Toshiba.
