Chugai Pharmaceutical Co., Ltd. announced that the company resolved at the Board of Directors Meeting held December 12, 2017 to appoint Tatsuro Kosaka, currently Representative Director, President and Chief Operating Officer (COO), as Chief Executive Officer (CEO). The change of the CEO will be formalized at the Annual General Meeting of Shareholders and the Board of Directors Meeting to be held at the end of March 2018. As next year, 2018, will be the final year of mid-term business plan IBI 18, and also the period when the next mid-term business plan, starting from 2019, will be drafted, it was decided to appoint Tatsuro Kosaka as Representative Director, President and CEO with the aim of achieving the continuous growth of the Chugai Group and further enhancing corporate value.

Under the new management system, Osamu Nagayama will continue to chair the board in his capacity as Representative Director and Chairman, focusing on his responsibility for management oversight. Osamu Nagayama current responsibilities are Representative Directors, Chairman and Chief Executive Officer (CEO). Mr. Kosaka will chair the Executive Committee in his capacity as Representative Director, President and CEO and bear the role and responsibilities for decision-making over company-wide strategy and the execution of operations.

Osamu Nagayama was a Representative Director, Chairman and CEO from 2012 to present. Tatsuro Kosaka is a Representative Director, President and COO from 2012 to present and Outside Director, Asahi Group Holdings from 2016 to present.