Directors and the Titles
Renesas Electronics Corporation made the following decisions at a meeting of the Board of Directors held today on the nomination of part of a candidate for the Member of the Board to be submitted for approval at the Ordinary General Meeting of Shareholders held in June 2013 and the changes in its Representative Directors as well as the titles to be officially appointed at a meeting of the Board of Directors scheduled after the Ordinary General Meeting of Shareholders.
1. Purpose of the Change in Representative Director and the Titles
Renesas has been pursuing the establishment of a robust and profitable structure by
engaging in structural reforms. At the same time, as announced on December 10, 2012, in
“Renesas Electronics Announces Share Issue through Third-party Allotment, and Change in
Major Shareholders, Largest Shareholder who is a Major Shareholder, Parent Company and
Other Related Companies”, Renesas also plans to boost its capital for implementing growth
investments in focused areas securing the recovery of its business performance along with
establishing a financial base that is resistant to drastic market changes.
Under such circumstances, Renesas resolved the nomination of Representative Director,
Chairman and CEO as well as the changes in the titles of its Representative Directors at a
meeting of the Board of Directors held today, on the condition that the official appointment will
be made after approvals at the Ordinary General Meeting of Shareholders and a meeting of the
Board of Directors held in June 2013, with the aim of strengthening the management structure
intended for an earlier recovery of business performance and future growth.
2. Outline of the Changes
3. Biography of the New Representative Director
4. Schedule
The nomination of a candidate of the Member of the Board is planned to be approved at the Ordinary General Meeting of Shareholders scheduled in June 2013. Then the new Member of the Board will be officially appointed as a Representative Director at a meeting of the Board of Directors after the Ordinary General Meeting of Shareholders. Other executive personnel changes excluding the above will be announced soon after decided.
