February 14, 2019
For Immediate Release
Company Name: Asahi Group Holdings, Ltd.
President and Representative Director: Akiyoshi Koji
Stock Ticker: 2502
Stock Listings: Tokyo Stock Exchange, First Section
Contact: Takayuki Tanaka
Public Relations Section
Change of the Chairman and Representative Director
Tokyo, Japan - Asahi Group Holdings, Ltd. (the "Company") announced that at its Board of Directors held on February 14, 2019, the Company has resolved that the position of Naoki Izumiya, the Chairman and Representative Director, be dedicated to the Chairman and Director. The change is scheduled to be officially decided at the Annual General Meeting of Shareholders as well as its Board of Directors held on March 26, 2019.
1. Reason of the change
The Company aims to separate the roles of management supervision and business executions clearly for enhancing its governance system. To this end, the Company has moved toward the governance system in which the President, CEO serves as the Representative Director, who takes final responsibility for the execution of management and its results and the Chairman serves as the chairman of the board assuming management supervision role and does not double as the Representative Director. The Company also works on selecting outside directors more than one third of the members of the board of directors and promote diversification of directors. Through these efforts, the Company will strengthen its governance system to make transparent, fair, swift and bold decisions.
This year, the Company introduced the new group philosophy "Asahi Group Philosophy" and updated the Medium-Term Management Policy for embodying the philosophy. Under the new governance system, the Company has enhanced "Glocal Value Creation Management" and aims to achieve sustainable growth and improve our corporate value in the medium to long-term.
2. The name and role of the Representative Director to be changed Name: Naoki Izumiya
New Position: Chairman and Director
Old Position: Chairman and Representative Director
3. Scheduled Date
March 26, 2019
4. Reference: Change of the Representative Director in the operating company
Name: Kenichi Shiozawa
New Position: President and Represent Director in Asahi Breweries, Ltd.
Old Position: Vice President and Director in Asahi Group Foods, Ltd.
Scheduled Date: March 19, 2019