Tokyo – Bridgestone Corp. has appointed an outside director, Dr Scott Trevor Davis as the 'chairperson of the board of directors', the tire and rubber group has announced.
This is the first time the Japanese group has named an independent director as 'chairperson of the board of directors', said the 26 March statement.
At its annual shareholders’ meeting, Bridgestone also introduced a new system under which the chair of the board of directors and the chair of the shareholders’ meeting are each appointed separately.
Shuichi Ishibashi, global CEO and representative executive officer, was appointed 'chairman of shareholders’ meeting', in order to “maintain direct communication and accountability between Bridgestone’s executive management and its shareholders.
Bridgestone said the move strengthens its corporate governance structure based on mid-long term business strategy, under which the group aims to improve profitability over the next two decades.
“The separation of the chairperson and the executive roles is part of Bridgestone’s ongoing process to strengthen its governance in order to enhance both the transparency and objectivity in its decision making,” said Davis.
Davis is a professor of the department of global business at Rikkyo University and joined Bridgestone's board as an independent director in March 2011.