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News Release

March 8, 2010 Fuji Electric Holdings Co., Ltd.

Fuji Electric Holdings Announces Changes to Representative Directors

Fuji Electric Holdings Co., Ltd. announces that its Board of Directors has resolved at a meeting today to make the following changes to representative directors.

1. Details of changes
New position Name Current position
Senior advisor to the Board Haruo Ito President and representative director
Director Katsushi Nakayama Executive vice president and representative director
President and representative director Michihiro Kitazawa Executive vice president and representative director
Executive vice president and representative director Mitsunori Shirakura Director (part-time)
Note: Mitsunori Shirakura will continue to concurrently serve as President of Fuji Electric Systems Co., Ltd.

2. Effective date of changes

April 1, 2010


3. Reason for changes

In fiscal 2009, The Fuji Electric Group completed initiatives for restructuring its business, made in the context of a sudden decrease in global demand that occurred two years ago. From fiscal 2010, the Group will begin carrying out its medium-term management plan aimed at building a foundation for growth.
  Taking this as an opportunity, the Board of Directors decided at this time to change the president and executive vice president positions in order to rejuvenate upper management and promote even stronger cooperation between Fuji Electric Holdings and its operating companies.


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