Konica Minolta will propose a restructure of its Board of Directors at the company's Ordinary General Meeting of Shareholders in June; under new structure, Chikatomo Kenneth Hodo, an outside director, will assume the position of Chairman of the Board

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TOKYO , February 25, 2022 (press release) –

Konica Minolta, Inc. (Konica Minolta) announced the new structure for its members of the Board of Directors to be proposed at its Ordinary General Meeting of Shareholders in June 2022.

Under the new structure, for the first time in Konica Minolta, an outside director will assume the position of Chairman of the Board and outside directors account for majority of the Board of Directors. It aligns the company’s initiatives to build and further advance a highly transparent system of governance that maintains a clear separation between supervisory and executive functions.

Chikatomo Kenneth Hodo was nominated for Chairman of the Board, because he has extensive experience as outside director, including for companies with three committees that is the same structure as Konica Minolta’s, obtains in-depth understanding in the governance of the company, and is the right person to lead the operation of the Board of Directors aiming to “improve corporate value by promoting digital transformation (DX).”

(The ^*indicates new appointment. )
Director	Toshimitsu Taiko President & CEO, Representative Director
Outside Director	Chikatomo Kenneth Hodo Chairman of the Board (Representative Director of Bayhills Inc.)
Outside Director	Sakie T. Fukushima (President and Representative Director of G&S Global Advisors Inc.)
Outside Director	Soichiro Sakuma (Advisor of Nippon Steel Corporation)
Outside Director	Akira Ichikawa (Chairman of the Board and Representative Director of Sumitomo Forestry Co., Ltd)
Outside Director^*	Masumi Minegishi (Chairperson and Representative Director of the Board of Recruit Holdings Co., Ltd.)
Director	Hiroyuki Suzuki
Director	Shoei Yamana Executive Chairman and Executive Officer
Director	Seiji Hatano Senior Executive Vice President and Executive Officer

The following directors are retiring after the Ordinary General Meeting of Shareholders in June 2022.
Director	Masatoshi Matsuzaki Chairman of the Board
Outside Director	Taketsugu Fujiwara (Special Advisor of Asahi Kasei Corporation)
Director	Toyotsugu Itoh

Note: Masatoshi Matsuzaki, will become Special Advisor after retiring from the current position of Director and Chairman of the Board.

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