Kawasaki Heavy Industries, Ltd. announced that the Board of Directors, in its meeting held yesterday, passed resolutions regarding replacement of directors and transition of management as stated below.
The Board of Directors has, in its meeting held today, not taking into account the votes of the personnel in subject, unanimously passed resolution to dismiss Mr. Satoshi Hasegawa, Mr. Mitsutoshi Takao and Mr. Masahiko Hirohata from their former positions of President, Senior Executive Vice President, and Senior Vice President respectively to Directors under supervision of President.
This replacement is due to arbitrary management actions of the above personnel in neglect of the view of the majority of the Board of Directors.
Kawasaki Heavy Industries also corrects certain announcements it has previously made, and announces that it has terminated all negotiations regarding management integration with Mitsui Engineering and Shipbuilding Co., Ltd.
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Press Release, June 14, 2013