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Nippon Steel and Sumitomo Metals Name CEO and COO of Integrated Company
03/07/2012 - At the recent meetings of the boards of directors of Nippon Steel Corp. and Sumitomo Metal Industries, Ltd., the nomination of the Chairman and the President of Nippon Steel & Sumitomo Metal Corp.—the integrated company that is planned to be formed on October 1, 2012—was decided.
At the recent meetings of the boards of directors of Nippon Steel Corp. and Sumitomo Metal Industries, Ltd., the nomination of the Chairman and the President of Nippon Steel & Sumitomo Metal Corp.—the integrated company that is planned to be formed on October 1, 2012—was decided as set forth by an agreement pursuant to the Master Integration Agreement entered into on September 22, 2011.
Shoji Muneoka has been named Representative Director, Chairman, and CEO of Nippon Steel & Sumitomo Metal Corp. Muneoka is currently Representative Director and President of Nippon Steel.
Hiroshi Tomono has been named Representative Director, President, and COO of Nippon Steel & Sumitomo Metal Corp. Tomono is currently Representative Director and President of Sumitomo Metals.
The election of the Chairman and President is conditioned upon the approval of the business integration at the Annual Shareholders Meetings of Nippon Steel and Sumitomo Metals, the approval of the appointment of the members of the board of directors of the integrated company at the Annual Shareholders Meeting of Nippon Steel, and the approval of the appointment of the Chairman and President at the first meeting of the board of directors of the integrated company.
The Annual Shareholders Meetings of Nippon Steel and Sumitomo Metals are scheduled to take place in late June 2012.
