Nikon Recommends Kimura as New President, as Kariya Becomes Board Chairman

Nikon Recommends Kimura as New President, as Kariya Becomes Board Chairman

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Tokyo, Japan—Michio Kariya, the current president, CEO and COO of Nikon Corporation, announced that the board of directors has recommended new appointments of directors and officers, which will be proposed at the general shareholders’ meeting on June 29, 2010 and at the board of directors meeting following it.

Included in the recommendation is the appointment of Kariya, 68, as chairman of the board, while retaining his post as representative director. This move makes way for Makoto Kimura, 62, to take the helm as president of Nikon Corp. Kimura is currently executive vice president and president of Nikon Corp.’s Imaging company, with deep roots in its digital camera business. Kimura will also remain a representative director and member of the board.

“[W]e need new ideas to achieve further growth,” Kimura said at a press conference in Tokyo, regarding Nikon’s imaging business. “I will try to add a more innovative and fun dimension to Nikon’s brand.” In addition to his long involvement in Nikon’s digital camera development in Tokyo, Kimura also served in New York from 1994 to 1998 as general manager of imaging equipment. “Our imaging equipment business has enjoyed constant growth over the past decade, but I don’t think the next 10 years will be as smooth,” he added, referencing the rapidly changing market with the advent of smartphones.

In other nominations, Yasuyuki Okamoto, the current executive officer, president and CEO, Nikon Inc., will be made director, member of the board and executive officer.

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