Japan Tobacco said its current President and CEO Mitsuomi Koizumi will step down while Masamichi Terabatake will take over his position.
Both appointments are to be effective from January 1, 2018, and are subject to approval of resolutions at the Company’s Board of Directors’ meeting, scheduled for November 27, 2017.
Effective from March 27, 2018, it is planned that Mr. Koizumi will then resign as a Representative Director and step down from the Board. Mr. Terabatake will be appointed as a Representative Director and so will become the Company’s President, Chief Executive Officer and Representative Director.
These appointments are subject to the ratification at the Ordinary General Meeting of Shareholders scheduled for March 27, 2018: and, approval of resolutions at the Company’s Board
of Directors’ meeting immediately thereafter.
At present, Mr. Koizumi is the Company’s President and Chief Executive Officer and Representative Director, while Mr Masamichi Terabatake is the Deputy CEO and Executive Vice President, Business Development and Corporate Strategy of JTI (Japan Tobacco International).
“For 36 years, ever since I joined the company, I have strived for the diversification and globalization of the JT Group. During my time as President and CEO (3 terms, in total 5 years and 6 months), I have executed aggressive investments to strengthen the foundations of a global growth company. Another key area of focus for me has been development of our people, as our people are the most valuable assets of our Group” said Mr. Koizumi.
Mr. Koizumi continued, “When assessing the business foundation of the JT Group, I judged that the right preparations have been made to hand over the management to the next generation. I decided to entrust JT Group’s future to Mr. Masamichi Terabatake, who possesses strong global business sense and has demonstrated his ability as Deputy CEO and Executive Vice President, Business Development and Corporate Strategy of JTI.”
“In what is an increasingly fast-changing business environment, I firmly believe, that by passing the
baton to the next generation, further sustainable growth of the JT Group will be achieved.”
“I am very grateful for all the support given to me and I would like to wish Mr. Terabatake well in his new role, knowing that he will be able to count on the same support in the future.”