OSAKA -- Sharp will promote Chairman and CEO Tai Jeng-Wu's top deputy as president, creating a two-man leadership team as the company faces the challenge of restoring finances battered by the coronavirus pandemic.
Executive Vice President Katsuaki Nomura will become president and COO effective June 25, the company said Tuesday. Tai will vacate his post as president but remain chairman and CEO.
"We'll form a strong tag team to once again restore" the company, Nomura said during Tuesday's earnings call.
Nomura, 63, is the sole Sharp insider left sitting on the company's board. When Apple assembler Foxconn took over the Osaka-based company in 2016, Nomura was promoted to vice president.
Nomura was instrumental in turning around Sakai Display Products, the group's liquid crystal display plant he headed, and that feat impressed Terry Gou, the founder of Foxconn, formally known as Hon Hai Precision Industry.
Tai has called Nomura his "right-hand man," and the two restructured Sharp back to profitability. Nomura was responsible for pushing through Foxconn-inspired reforms, such as the rapid offshoring of production. Nomura also smoothed things over with Sharp's union members. read more here