Notice Regarding the Implementation of the Operating Officer System
2005-12-06
1. This is notice that as of April 1, 2006, Toyota Tsusho will be implementing an Operating Officer System. The purpose of this plan is to increase management efficiency and enhance corporate governance by separating the overall management of the Company from the operational execution of management strategies.
2. The main purpose and summary of the Operating Officer System is described below:
(1) Increased management efficiency
? The system will result in the appointment of operating officers that do not sit on the board of directors. By doing so, the board will be streamlined and can dedicate itself to overall Company management, and the operating officers can dedicate themselves to the execution of management strategies, which speed up the decision making process and increase management efficiency.
(2) Enhancement of corporate governance
? By separating overall corporate management (directors) from the execution of management strategies (operating officers), the board of directors can better monitor the performance of those executing such strategies. In addition, it clarifies the duties and responsibilities of each personnel group.
3. Notices on personnel issues regarding operating officers after this new system is implemented shall be disclosed after an official decision is made by the board of directors.
press release (original)(21KB)
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