KHI announces replacement of directors, transition of management
The Board of Director of Kawasaki Heavy Industries, Ltd. at its meeting held on June 13 2013, passed resolutions regarding replacement of directors and transition of management, the Company said in a press release.
The BoD dismissed Mr. Satoshi Hasegawa, Mr. Mitsutoshi Takao and Mr. Masahiko Hirohata from their former positions of President, Senior Executive Vice President, and Senior Vice President respectively to Directors under supervision of President. This replacement is due to arbitrary management actions of the above personnel in neglect of the view of the majority of the Board of Directors.
The Board had but to deem such actions questionable and unaligned with what the Board considers as good corporate governance and compliance, and made appropriate decisions.
Kawasaki Heavy Industries also corrects certain announcements it has previously made, and announces that it has terminated all negotiations regarding management integration with Mitsui Engineering and Shipbuilding Co., Ltd.
