TOKYO, Japan, February 24, 2011 — Renesas Electronics Corporation (TSE: 6723) today announced the following changes to its Members of the Board and Corporate Officers, which were approved at a meeting of the Board of Directors on February 24, 2011. The company also announced changes in its organizational structure to accelerate the three-pronged business strategy announced July 2010, which includes (1) formulation of growth strategies by optimizing business portfolios, (2) realization of merger synergies, such as the integration of development environments, technology platforms and various infrastructures, and (3) implementation of structural reforms to create a business structure with stable profitability and resistance to changing market conditions.
1) Outline of changes in the organizational structure (Effective April 1, 2011)
Renesas Electronics has been promoting structural reforms as part of its 100-day Project in which the company reviewed all of its management resources. As integrations have proceeded for the 100-day Project, Renesas Electronics further discovered issues that need to be resolved during the first year after the merger between NEC Electronics Corporation and Renesas Technology Corp. (effective April 1, 2010). To achieve full-scale growth, Renesas Electronics has constructed the following new organizational structure:
1.1) Establishment of the Marketing Business Unit
By leveraging the strength of its microcontroller (MCU) business that boasts the industry's top share, the new Marketing Business Unit will engage in cultivating new opportunities from around the world and expand businesses worldwide. The new Marketing Business Unit also will operate in line with the company's strategy to promote cooperation between the core MCU business and the Analog & Power Devices business and further strengthen profitability by integrating the marketing forces of both of these businesses. With the combined forces, Renesas Electronics aims to construct and execute business strategies through close cooperation.
Additionally, aiming to achieve an overseas sales ratio of 60 percent, Renesas Electronics has appointed three new associate vice presidents in addition to the presidents and other executives of its sales subsidiaries already in place to strengthen global sales strategies.
1.2) Establishment of the SoC Business Unit
Renesas Electronics has positioned the mobile platform business as a new focus for the company, with an emphasis for expanding the business worldwide, and established Renesas Mobile Corporation, which commenced operation in December 2010, by transferring the wireless modem business acquired from Nokia Corporation to Renesas Electronics together with Renesas Electronics' mobile multimedia business, which belonged to the 2nd SoC Business Unit.
The remaining SoC business at the 1st SoC Business Unit (BU), responsible for businesses in industrial and imaging (digital cameras, printers, game consoles, etc) and 2nd SoC Business Unit that promotes SoC businesses for the field of home multimedia including digital consumer electronics will be integrated into one BU, the new SoC Business Unit, which is in charge of SoC businesses for the field of industry & network, imaging devices, home multimedia and others. By accelerating the selection and concentration of businesses, Renesas Electronics is pressing on with the optimization of its entire SoC business portfolio.
2) Outline of changes in executive personnel
Note: Asterisks (*) indicate position currently held.
2.1) Representative Director (As of June 28, 2011)
New Representative Director and Executive Managing Vice President
Retiring Representative Director
Mr. Yamaguchi will serve as an advisor at Renesas Electronics.
2.2) Member of the Board (As of June 28, 2011)
New Member of the Board
Retiring Member of the Board
2.3) Corporate Officers (As of April 1, 2011)
New Corporate Officers
Tetsuro Kitano
Representative Director, President, Renesas Electronics Sales Co., Ltd.* and Associate Vice President, Sales Management Unit, Renesas Electronics*
Toshihide Tsuboi
General Manager, 3rd MCU Business Division, MCU Business Unit*
Retiring Corporate Officers
Note: The Members of the Board will officially be appointed following the adoption of the resolutions at the General Meetings of Shareholders to be held on June 28, 2011. The representative director will also officially be appointed at a meeting of the Board of Directors scheduled on June 28, 2011.
See the attachment for an organization chart and a biography of the newly appointed Representative Director, Mr. Kato; new Member of the Board, Mr. Mizugaki; and new Corporate Officers, Mr. Kitano and Mr. Tsuboi.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, and YouTube.
The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.