5/8/2013

Omron Chairman to Head Renesas Electronics

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Posted: May 7, 2013 at 11:53 pmHisao Sakuta, chairman of electronic components supplier Omron Corp., has been named chairman and CEO of Renesas Electronics Corp. to lead the restructuring of the troubled Japanese chipmaker, The Nikkei reports.The Tokyo-based newspaper says Sakuta will resign his post at Omron and be formally appointed to his new position by the Renesas board in June.

Share

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Posted: May 7, 2013 at 11:53 pm

Hisao Sakuta, chairman of electronic components supplier Omron Corp., has been named chairman and CEO of Renesas Electronics Corp. to lead the restructuring of the troubled Japanese chipmaker, The Nikkei reports.

The Tokyo-based newspaper says Sakuta will resign his post at Omron and be formally appointed to his new position by the Renesas board in June. Renesas President Tetsuya Tsurumaru will continue in that role while adding COO duties.

Renesas supplies about 30% of the world’s microprocessors, But the company faltered when severe earthquakes damaged its plant in Japan in 2011.

The company was bailed out last year by its banks, customers and the government-owned Innovation Network Corp. of Japan. In exchange for $3.9 billion in loans and capital infusions, those parties received a collective 72.2% stake in Renesas. 

RELATED CONTENT

  • “Automobility ‘16”: The Road to Tomorrow

    It’s gone from being a matter of “if” to one of “when.” And there is something of a subset to that “when” of “how much at what time.” The topic, of course, is autonomy.

  • GM Develops Contingency Plan for Korea

    General Motors Co. is working on a plan for its South Korean operations in the event that North Korea’s nuclear threats escalate, says CEO Dan Akerson.He tells CNBC that if rising military tensions became a danger to GM employees and facilities, the company might pull some staff out of South Korea and try to relocate vehicle production.

  • Toyota Shakes Up Management, Structure

     President Akio Toyoda has made the broadest changes to Toyota Motor Corp.’s executive ranks, board and operating structure since he took the top job in mid-2009.Toyota’s chairman, three executive vice presidents, five senior managing officers and nine managing officers will retire.


Resources