News Releases

2/22/2001

Hitachi, Ltd. Announces New Management

Feb 22, 2001 08:57 AM

TOKYO, Japan, February 22, 2001 --- Hitachi, Ltd. (TSE:6501) today announced new management which will become effective from April 1, 2001, in accordance with a decision taken at a meeting of the Board of Directors convened today.

Hitachi is currently aiming to strengthen the management system to accelerate management reforms and business reorganizations in order to achieve the targets of the i.e. Hitachi medium-term business plan set for the year ending March 2003. Toward this goal, policy objectives for selecting the new management were set on bringing up the next generation of management with the emphasis on Presidents of the business groups. Policy objectives also include a strengthening of relationships between affiliated companies within the Hitachi Group and increased interchange of human resources.

As of April 1, business groups in charge of information systems and telecommunications operations, namely, Finance & Distribution Systems, Industrial Information Systems, Government & Public Corporation Information Systems, Telecommunication & Information Infrastructure Systems and Information & Computer Systems, will be reorganized into two groups: Systems Solutions*, which will run the overall systems solutions business operations on a strategic, flexible basis; and Information & Telecommunication Platform Systems*, which will focus on merging computer platform operations and telecommunications equipment operations.

To strengthen and integrate strategy planning of information systems and telecommunications operations, a Senior Group Executive of the Information & Telecommunication Systems Group will be in charge of both groups, assuming overall responsibility for those operations. A Chief Marketing Officer (CMO) and a Chief Strategy Officer (CSO) will be newly appointed to be responsible for marketing and sales strategy and business structural reforms, respectively.

The CMO and CSO, together with the Chief Technology Officer (CTO) of the Automotive Products business group and Life Science Group, are appointed to strengthen the management staff functions of each group with clearly defined responsibilities in formulating management strategies

Hitachi, Ltd., headquartered in Tokyo, Japan, is one of the world's leading global electronics companies, with fiscal 1999 (ended March 31, 2000) consolidated sales of 8,001 billion yen ($75.5 billion**). The company manufactures and markets a wide range of products, including computers, semiconductors, consumer products and power and industrial equipment. For more information on Hitachi, Ltd., please visit Hitachi’s Web site at http://www.hitachi.co.jp.

* Provisional names. ** At an exchange rate of 106 yen to the dollar.

1. New Management
New Directors (Effective April 1, 2001*1) (Current positions of promoted officers are shown in parentheses.)
Tsutomu Kanai, Representative Director, Chairman of the Board and Director
Etsuhiko Shoyama, Representative Director, President and Director
Yoshiki Yagi, Representative Director, Executive Vice President and Director
Yoshiro Kuwata, Representative Director, Executive Vice President and Director
Yuushi Samuro, Representative Director, Executive Vice President and Director
Takashi Kawamura, Representative Director, Executive Vice President and Director
Kazuo Kumagai, Representative Director, Executive Vice President and Director (Senior Vice President and Director)
Katsukuni Hisano, Senior Vice President and Director
Toshihiko Odaka, Senior Vice President and Director
Hiroshi Kuwahara, Director
Kazuo Sato, Senior Vice president (Senior Corporate Officer)*1
Takao Matsui, Senior Vice President (Senior Corporate Officer)*1
Masaaki Hayashi, Senior Vice President (Senior Corporate Officer)*1
Kunio Hasegawa, Senior Vice President (Corporate Officer)*1

*1: Kazuo Sato, Takao Matsui, Masaaki Hayashi and Kunio Hasegawa will serve as Executive Officers and Senior Vice Presidents from April 1, and are to be appointed Senior Vice Presidents and Directors after the conclusion of the Ordinary General Meeting of Shareholders held in June.

Presidents & Chief Executive Officers (Effective April 1, 2001)
(Current positions are shown in parentheses.)
Katsukuni Hisano, President, Power & Industrial Systems and Chief
Executive Officer, Power Systems Operation*2 (President & Chief Executive Officer, Power & Industrial Systems)
Masaharu Sumikawa, Chief Executive Officer, Industrial Systems Operation*2, Power & Industrial Systems (General Manager, Thermal & Hydroelectric Systems Division, Power & Industrial Systems) Kiyohiko Shiigi, President & Chief Executive Officer, Industrial Components & Equipment (General Manager, Sales Operations Division, Industrial Components & Equipment) Masao Takizawa, President & Chief Executive Officer, Building Systems (Executive Vice President, Building Systems)
Masaaki Hayashi, Senior Group Executive, Information & Telecommunication Systems Group (President & Chief Executive Officer, Telecommunication & Information Infrastructure Systems) Hiroyuki Nakamura, Chief Marketing Officer, Information & Telecommunication Systems Group (President & Chief Executive Officer, Government & Public Corporation Information Systems) Hiromi Kuwahara, Chief Strategy Officer, Information & Telecommunication Systems Group (Executive Vice President, Information & Telecommunication Systems Group)
Isao Ono, President & Chief Executive Officer, Systems Solutions*2 (President & Chief Executive Officer, Finance & Distribution Systems and Chief Executive Officer, Industrial Information Systems)
Takao Kato, President & Chief Executive Officer, Information & Telecommunication Platform
Systems*2 (President & Chief Executive Officer, Information & Computer Systems)
Tsugio Momose, President & Chief Executive Officer, Digital Media (General Manager, Internet Systems Platform Division, Information & Computer Systems)
Kunio Sebata, President & Chief Executive Officer, Consumer Products (General Manager, Refrigeration & Airconditioning Division)
Fumiaki Yonai, President & Chief Executive Officer, Displays (Executive Vice President, Displays)
Kunio Hasegawa, President & Chief Executive Officer, Semiconductor & Integrated Circuits (Executive Vice President, Semiconductor & Integrated Circuits) Kunihide Kaneko, President & Chief Executive Officer, Automotive Products (Executive Vice President, Automotive Products)
Junzo Kawakami, Chief Technology Officer, Automotive Products (General Manager, Hitachi Research Laboratory) Katsuji Yamashita, President & Chief Executive Officer, Instruments (Executive Vice President, Instruments)
Masanori Kataoka, President & Chief Executive Officer, Information & Network Services (President, Hitachi netBusiness, Ltd.)
Toshihiro Sanematsu, President & Chief Executive Officer, Semiconductor Manufacturing Equipment Hiroya Taguchi, President & Chief Executive Officer, Life Science Group
Takao Iwayanagi, Chief Technology Officer, Life Science Group
Hiroaki Kawashima, President & Chief Executive Officer, Broadcasting & Communication Systems Group (General manager, Space IT Project Division, Power & Industrial Systems)
Isao Yasuda, President & Chief Executive Officer, Defense Systems Group
Shigeru Matsuoka, President & Chief Executive Officer, Net-PDA Venture Company

*2: Provisional names
New Corporate Auditors (Standing)
To be appointed after the conclusion of the Ordinary General Meeting of Shareholders held in June and will serve as Directors from April 1 until the appointment. (Current positions are shown in parentheses.)
Shigemichi Matsuka (Representative Director, Executive Vice President and Director)
Tadashi Ishibashi (Senior Vice President and Director)
Kotaro Muneoka (Senior Vice President and Director)

II. Retiring Officers
Retiring Directors
(Current positions are shown in parentheses.)
Shigemichi Matsuka (Representative Director, Executive Vice President and Director)
Tadashi Ishibashi (Senior Vice President and Director)
Kaichi Murata (Senior Vice President and Director)
Kotaro Muneoka (Senior Vice President and Director)

*3: All will serve as Directors from April 1 and will retire at the conclusion of the Ordinary General Meeting of Shareholders held in June.

*4: Shigemichi Matsuka, Tadashi Ishibashi and Kotaro Muneoka are to be elected as Corporate Auditors (Standing).

*5: Kaichi Murata is expected to become President of Hitachi Capital Corporation

Retiring Corporate Auditors (Standing)
Nobuji Kamachi
Iwao Matsuoka
Takashi Kashiwagi
Kazuo Morita

*6: All will retire at the conclusion of the Ordinary General Meeting of Shareholders in June.

Retiring Senior Corporate Officers / Corporate Officers
(Current positions are shown in parentheses)
Hiroshi Inomata (Senior Corporate Officer)
Takeo Ueno (Corporate Officer)
Katsuya Yanai (Corporate Officer)
Eiichi Kawasaki (Corporate Officer)
Yoshinori Fujimori (Corporate Officer)

*7: Hiroshi Inomata is to become President of Hitachi Medical Corporation. Takeo Ueno is to become President of Hitachi Via Mechanics Ltd. Katsuya Yanai is to become President of Hitachi Engineering & Services Co., Ltd. Eiichi Kawasaki is to become President of Tokyo Securities Transfer Agent Co., Ltd. Yoshinori Fujimori is to become President of Kokusan Denki Co., Ltd.

*8: All will retire on the day of the Ordinary General Meeting of Shareholders of each of the affiliated companies to which the retiring officer concerned is moving.

For Media/Investor Inquiries, please contact:

Gerard F. Corbett
Hitachi America, Ltd.
Vice President
Corp. Communications Group
Tel:(650) 244-7900
Fax: (650) 244-7920
gerard.corbett@hal.hitachi.com

Terry Kubo
Hitachi America, Ltd.,
Corp. Communications Group
Tel: (650) 244-7902
tatsuya.kubo@hal.hitachi.com

Japan:
Takeshi Okamoto
Hitachi, Ltd.
Tel: (03) 3258-2054
takeshi_okamoto@hdq.hitachi.co.jp

Hiroaki Ohi
Hitachi, Ltd.
Tel: (03) 3258-2056
Hiroaki_ohi@hdq.hitachi.co.jp

Emi Takase
Hitachi, Ltd.
Tel: (03) 3258-2056
emi_takase@hdq.hitachi.co.jp

For all other inquiries please call:
1-800-HITACHI

If you have any questions specifically about Investor Relations in the United States, please contact our Investor Relations Department at investor.info@hal.hitachi.com