Nagumo to step down as Yokohama Rubber CEO

In a statement released today, Yokohama Rubber Co., Ltd reports that Tadanobu Nagumo, currently CEO and chairman of the company’s board, will relinquish the role of CEO in the first half of this year. This change was decided at the company’s board meeting today and will be formally approved following Yokohama Rubber’s general meeting of shareholders on 30 March 2016. No successor for the position of CEO has been named. Nagumo will continue to serve as chairman and board representative member.

Other changes affecting board members decided at today’s meeting include the appointment of four new board members, Yasushi Kikuchi, Osamu Mikami, Shigeru Nakano and Nobuo Takenaka, who joins Yokohama from Misawa Homes Co., Ltd., where he served as president and CEO. The retirement of three board members was also announced: Tooru Kobayashi will take up the role of executive vice-president, Fumio Morita that of advisor, while Tetsuya Kuze will be appointed managing officer.