At a February 3, 2016 regularly scheduled meeting of the Board of Directors of AVX Corporation, the Board was informed of, and accepted, the decision by Director Kazuo Inamori to retire and not stand for re-election to the Board effective at the end of his current three year term expiring at the July 2016 Annual Meeting of Shareholders. Mr. Inamori has been Chairman Emeritus of the Board since 1997, Chairman of the Executive Committee of the Board of Directors since 1995 and a member of the Board since 1990. Mr. Inamori is Chairman Emeritus of Kyocera Corporation, which he founded in 1959.

The Board has appointed Mr. Inamori as Director Emeritus of AVX, effective with his retirement from the Board in July 2016, so that he may assist the Board from time to time in a non-voting advisory role as deemed appropriate. To fill the vacancy created by Mr. Inamoris retirement, the Board also added Koichi Kano, Kyoceras Senior Executive Officer and General Manager of the Corporate Development Group, to the slate of nominees as a Director in Class I for election at the Annual Meeting. Mr. Kano has held various management positions within Kyocera since joining Kyocera in 1985.