Hitachi Announces Selection of Director Candidates
April 01, 2024 at 10:06 am EDT
Share
Tokyo - Hitachi, Ltd. (TSE: 6501, 'Hitachi') today announced director candidates to be proposed at its annual general meeting of shareholders to be held on June this year, in accordance with a resolution at a meeting of Nominating Committee convened today.
Hitachi is a company with committees and strives to achieve an execution system that enables rapid business operations and highly transparent management thorough demarcation of supervision and execution. In addition, since 2012, the majority of its directors have been independent directors, allowing Hitachi to bring their diverse viewpoints to management and securing management oversight.
To continuously secure the management oversight function of the Board of Directors, the Nominating Committee selected a new director candidate, Isabelle Deschamps, who has extensive experience and insight in the areas of legal affairs and corporate governance in global business management, having served as legal officer at Unilever and Rio Tinto Group, is newly nominated as a candidate for director in addition to the 11 re-nominated candidates. Out of this year's 12 director candidates, 9 are independent director candidates of which 5 are Non-Japanese and 2 are female. Hitachi will continue to reflect its global and diverse viewpoints in its management to further accelerate the growth of the Social Innovation Business, with a focus on digital, green and innovation.
Resignation of Directors
Cynthia Carroll, currently Independent Director of Hitachi, Ltd., Director of Baker Hughes Company (U.S.A.), Director of Pembina Pipeline Corporation (Canada), Director of Glencore plc (Switzerland).
About Hitachi, Ltd.
Hitachi drives Social Innovation Business, creating a sustainable society through the use of data and technology. We solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products. Hitachi operates under the business structure of 'Digital Systems & Services' - supporting our customers' digital transformation; 'Green Energy & Mobility' - contributing to a decarbonized society through energy and railway systems, and 'Connective Industries' - connecting products through digital technology to provide solutions in various industries. Driven by Digital, Green, and Innovation, we aim for growth through cocreation with our customers. The company's consolidated revenues for fiscal year 2022 (ended March 31, 2023) totaled 10,881.1 billion yen, with 696 consolidated subsidiaries and approximately 320,000 employees worldwide.
Hitachi specializes in manufacturing and marketing of electronic and industrial equipments. Net sales (including intragroup) break down by family of products and services as follows:
- social infrastructure and industrial systems (24.7%): elevators, escalators, industrial facilities, railway systems, power generation units, etc. The group also provides engineering and construction of nuclear, hydroelectric, and thermal power plants services;
- information and telecommunications products and services (20.1%): systems integration, cloud computing, software, servers, hard disks, PCs, ATMs, data communication base stations, payment terminals, etc.;
- materials and components (16.6%): semi-conductor materials, printed circuit cards, cables, copper and forged steel products, magnetic materials, organic and inorganic chemical products, etc.;
- construction equipment (10%) : hydraulic excavators, wheel loaders, mining equipment, etc.;
- automotive systems (9.4%): powertrain systems, control systems, etc.;
- electronic products (9.2%): fiber-optic components, screen tubes, testing and measurement equipment, medical equipment, equipment for manufacturing semiconductors, etc.;
- household appliances (4.7%): heating and air conditioning equipments, refrigerators, washing machines, etc.;
- other (5.3%): mainly transport, financial and logistical services.
Net sales are distributed geographically as follows: Japan (49.2%), Asia (21.3%), North America (12.7%), Europe (10.8%) and other (6%).
HITACHI, LTD. 
