Toshiba Appoints New President

TOKYO (04/18/2000) - A month after outlining a new Internet-centric business plan, Toshiba Corp. president and chief executive officer Taizo Nishimuro yesterday announced plans to step aside and leave the implementation of the plan in the hands of Tadashi Okamura, 61, currently president of Toshiba's Information and Industrial Systems and Services in-house company.

The Information and Industrial Systems and Services company works in a wide range of information systems fields, from traffic control and supervisory systems to broadcasting equipment, and importantly is also credited with playing a major role in the promotion of Internet-based businesses, especially business-to-business (B2B) services.

Toshiba's new midterm business plan, unveiled in March, puts a strong emphasis on the development of hardware and software systems for Internet businesses.

Okamura will need to draw on experience gained at his current job if he is to steer the company toward a projected 37 percent increase in sales over the next three years. [See "Toshiba Outlines New Business Strategy," Mar. 22].

A graduate of the Faculty of Law of Tokyo University, Okamura joined Toshiba in 1962. He went on to graduate from the School of Business at the University of Wisconsin-Madison, and Toshiba credits him with promoting close alliances with international information technology and telecommunications companies, such as Sun Microsystems Inc., IBM Corp., Oracle Corp. and Alcatel SA.

The move, which needs to be rubber-stamped by shareholders at the upcoming annual general meeting, will see Nishimuro move from the position of president, a job he has held for four years, to the position of chairman.

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