Jiji Press TOKYO (Jiji Press) — Nippon Steel & Sumitomo Metal Corp. said Thursday that it will promote Executive Vice President Eiji Hashimoto, 63, to president on April 1.
Incumbent President Kosei Shindo, 69, who has been in the top company post for nearly five years, will assume the post of chairman with the right to represent the company. The fate of current Chairman Shoji Muneoka, 72, has not been decided yet.
The top management reshuffle will coincide with the company’s corporate name change to Nippon Steel Corp. at the beginning of April.
Nippon Steel & Sumitomo Metal was launched in October 2012 through the merger of Nippon Steel Corp. and Sumitomo Metal Industries Ltd.
Hashimoto, who joined the former Nippon Steel in 1979, assumed his current post in April 2016. He also serves as head of Nippon Steel & Sumitomo Metal’s global business development division, utilizing his rich experience in marketing.
Shindo, since becoming president in April 2014, has helped the company expand its operations globally, including through acquisitions of foreign businesses.