| March 31, 2006 |
| Press Release |
| Announcement of Organizational and Personnel Changes Effective April 1, 2006 |
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| KENWOOD Corporation (President and CEO: Haruo Kawahara; Head Office: Hachioji, Tokyo) is pleased to announce the following organizational changes and personnel transfers, effective April 1, 2006. |
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| 1. Purpose of Organizational Changes and Personnel Transfers Effective April 1 |
KENWOOD is currently advancing growth strategies in accordance with the Second Mid-term Business Plan, "Value Creation Plan," and is working towards realization of "seamless entertainment world" where our customers can enjoy high-quality sound in all aspects of their lives, both inside and outside their homes, and in their automobiles, by integrating its car electronics, communications and home electronics businesses to create a "Mobile & Home Multimedia System."
At this organizational change, KENWOOD will split the current Consumer Business Sector into Consumer Business Sector and Car Electronics OEM Sector in order to accelerate the growth strategies in the Second Mid-term Business Plan by strengthening the next-generation operating bases and hastening the achievement of seamless entertainment world through reinvigoration of speedy organizational activities, and by expanding OEM business further as prescribed.
Placing the Car Electronics Consumer (Audio) Division, the Car Electronics Consumer (Multimedia) Division and the Home Electronics Division under its control, the Consumer Business Sector will seek to enhance the competitiveness and growth of these consumer divisions. At the same time, the Speaker System Division, currently a cost center, will be reorganized as a level 1.5 unit of Speaker System Division in order to reinforce the structure for contributing to these three consumer divisions.
The Car Electronics OEM Sector will place the Car Electronics OEM Division under
its control, and will establish a level 1.5 unit of Device Business Division
with the aim of further expanding the mechanical device business and car electronics
OEM business. |
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| 2. Principle Organizational Changes |
(1) Strategic Technologies Development Center
The Consumer Business Development Center, which has heretofore taken initiatives in developing competitive new products and turning them into platforms in the rapidly progressing consumer electronics field, will perform an upfront development function in the radio field, in addition to the existing upfront development activities in the field of car electronics and home electronics. As a company-wide organization it will be renamed the Strategic Technologies Development Center, and will be charged with reinforcing technological development geared towards achieving seamless entertainment world and promoting next-generation technological development related to the activities of Sectors and Divisions.
The Advanced Technologies Development Department and Core Technologies Development Department will come under the aegis of the new Center, and the existing Device Development Department will be consolidated into Device Business Division, which will be established within the Car Electronics OEM Sector.
(2) Consumer Business Sector
The Consumer Business Sector will place the Car Electronics Consumer (Audio) Division, Car Electronics Consumer (Multimedia) Division and Home Electronics Division under its control, each of which handles consumer business, and will seek to enhance the competitiveness and growth of these businesses. With regards to the speaker business, the current Speaker System Division will be reorganized as a level 1.5 unit of Speaker System Division and will contain the Business Planning Department and Engineering Department (a level 2 unit) in order to reinforce the structure for contributing to these three consumer divisions.
KENWOOD will also establish Consumer Business Management Operation (a level 1.5 unit), under whose control the Business Planning Department and PSI Management Department operate, thereby implementing a sector-level structure to oversee business management, business planning/control, production/sales management, overseas business planning and management of overseas sales subsidiaries in the consumer business as a whole.
The Sound Quality Research Office, which has heretofore operated under the aegis of the relevant Divisions, will be upgraded to a level 1.5 unit in charge of cross-divisional sound quality operation for the entire Consumer Business Sector.
The E-Business Project will be dissolved and succeeded by the E-Business Management Department (a level 2 unit), which will be established for the purpose of implementing specific e-business operations.
Car Electronics Consumer Division
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The Product Management Operation will be reorganized to place Systems Planning & Engineering Operation (a level 1.5 unit) under its control, which in turn will have Design Office (a level 2 unit) under it. |
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Consumer Business Product Design Operation KENWOOD Nagano Headquarters will be renamed Consumer Business Product Design Operation. |
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The Quality Assurance & Services Department will be reorganized as the Consumer Business Quality Assurance & Services Department, and will assume increased responsibility for quality assurance and services for home electronics products, in addition to car consumer electronics products. |
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The Overseas Marketing Department, Global PSI Management Department, and Business Planning & Management Department will be reorganized and consolidated into Consumer Business Management Operation. |
Car Electronics Multimedia Division
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The existing sub-units, i.e., the Multimedia Systems Planning & Engineering Department, the Advanced Multimedia Systems Planning & Engineering Department, the Visual Systems Planning & Engineering Department and the Navigation Systems Development Department, will be reorganized to be replaced by the Multimedia Systems Development Department, the Car Multimedia Systems Planning & Engineering Department, the Advanced Multimedia Systems Development Project and the Visual Systems Planning & Engineering Department (level 2 units). |
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The Business Management Department will be consolidated into Consumer Business Management Operation. |
Home Electronics Division
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The Product Planning & Design Department will be renamed the Planning & Engineering Department. |
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The Quality Assurance & Services Department will be consolidated into the Consumer Business Quality Assurance & Services Department and the Business Management Department will be consolidated into the Consumer Business Management Operation. |
(3) Car Electronics OEM Sector
KENWOOD will aim to make a further leap forward and enhance profitability in the car electronics OEM business which is one of its growing businesses. The Company will newly establish Device Business Division (a level 1.5 unit), under whose control the Mechanics Development Department and the Device Development Department will be placed, and will strengthen and expand its mechanics and device businesses by consolidating mechanics and device functions, which have been performed by the Car Electronics OEM Division, and the activities of the Device Development Department which previously operated under the Consumer Business Development Center.
The existing Sound Quality Research Office will be upgraded to a level 1.5 unit in charge of sound quality operation for the entire Car Electronics OEM Sector.
Car Electronics OEM Division
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Product Management Operation will be reorganized into the Systems Planning & Engineering Operation and marketing functions will be transferred to sales units and business planning functions will be transferred to the Business Management Department. |
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The Overseas Marketing Department and the Domestic Sales & Marketing Department will be reorganized into the Overseas Marketing Department, the Domestic OEM Sales & Marketing Department and the Domestic DOP (Dealer Option Products) Sales & Marketing Department. |
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The Product Design Operation Nagano KENWOOD Headquarters will be renamed the Product Design Operation. |
(4) Organizational Changes in Head Office Corporate Units
Information and Technology Management Division
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Marketing functions will be added to the Brand Strategy Office which will be renamed the Marketing & Brand Strategy Office (a level 2 unit). |
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The PSI Innovation Project will be completed, and its functions will be assumed by the IT Initiative Department. |
Corporate Relations Division
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Corporate Governance Enhancement Project (a level 2 unit) will be established under the Corporate Relations Division. |
Human Resources Management Department/Labor Welfare Department
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Through completion of principal measures against innovation of human resources and labor welfare policies, the Human Resources Management Department and Labor Welfare Department will be consolidated and renamed the Personnel Department (a level 2 unit). |
Finance & Accounting Division
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The Project for Accelerated Implementation of Consolidated Fiscal Closing will be completed and realigned, and Consolidated Accounting System Improvement Project (a level 2 unit) will be established under the Financial & Accounting Division. |
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| 3. Changes in Appointments of Executive Officers |
| Name |
New position |
Previous position |
| Kazuo Shiohata |
Executive Vice President & Executive Officer CFO
Assistant to CEO; Personnel & Employment
General Manager of Corporate Relations Div. |
Executive Vice President & Executive Officer CFO
General Manager of Corporate Relations Div. |
| Hiroyasu Hata |
Executive Vice President & Executive Officer
Assistant to CEO; Management Academy and Human Resourse Development |
Executive Vice President & Executive Officer
Assistant to CEO; Personnel & Employment |
| Akio Ueda |
Executive Vice President & Executive Officer
Assistant to CEO; Operation Innovation (Administration and Procurement) |
Executive Vice President & Executive Officer
Assistant to CEO; Operation Innovation
General Executive of Procurement Div. |
| Shoichiro Eguchi |
Senior Vice President & Executive Officer
President of KENWOOD U.S.A. Corp.
Representative of KENWOOD Americas Headquarters |
Senior Vice President & Executive Officer
President of KENWOOD U.S.A. Corp. |
| Makoto Inukai |
Senior Vice President & Executive Officer
Representative of KENWOOD Europe Headquarters
President of KENWOOD Electronics Europe B.V.
President of KENWOOD Electronics France S.A. |
Senior Vice President & Executive Officer
Representative of KENWOOD Europe Headquarters
President of KENWOOD Electronics Europe B.V. |
| Akira Seida |
Senior Vice President & Executive Officer
General Executive of Procurement Div.
Assistant to CEO; Car Electronics OEM Sector
Senior Manager, Strategic Procurement Dept. of Procurement Div. |
Senior Vice President & Executive Officer
General Executive of Car Electronic OEM Div. |
| Shuntaro Tanaka |
Vice Executive
Assistant to CEO; Consumer Business Sector
General Executive of Car Electronics Consumer Div.
General Executive of Car Electronics Multimedia Div. |
Vice Executive
General Executive and Operation Manager, Product Management Operation of Car Electronics Consumer Div.
General Executive of Car Electronics Multimedia Div. |
| Kiyoshi Niki |
Vice Executive
CIO
General Manager, Senior Manager, Technology Strategic Planning Office and Senior Manager, IT Initiative Dept. of Information and Technology Management Div. |
Vice Executive
CIO
General Manager, Senior Manager, Technology Strategic Planning Office and Senior manager, Brand Strategy Office of Information and Technology Management Div. |
| Tatsuhiko Ohkuma |
Vice Executive
Sound Quality Meister, Sound Quality Research Office of Car Electronics OEM Sector |
Vice Executive
Sound Quality Meister, Sound Quality Research Office of Car Electronics OEM Div. |
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| The KENWOOD Corporation is “Reaching out to discover,
inspire and enhance the enjoyment of life” as part of its bold, new vision
for the future. A leader in “Mobile & Home Multimedia Systems”,
KENWOOD is comprised of three business units (Car Electronics, Communications
and Home Electronics), 12 domestic and 24 overseas subsidiaries around the world. |
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| For inquiries regarding this article, please contact: |
Public & Investor Relations Office,
Corporate Relations Division, KENWOOD Corporation
TEL: +81 426 46 6724 FAX: +81 426 46 1440 E-mail: pr.qa@kenwood.co.jp
Also see our Web site at https://www.kenwood.co.jp/en/ |
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