Nidec COO to step down, leave company: Nikkei

Nidec COO to step down, leave company: Nikkei
FILE PHOTO: Nidec Corp’s logo is pictured at an earnings results news conference in Tokyo, Japan, July 25, 2018. REUTERS/Kim Kyung-Hoon

TOKYO: Japanese electric motor company Nidec Corp Chief Operating Officer Jun Seki intends to step down from the position and leave the company, the Nikkei newspaper reported on Thursday (Aug 25).

The company hasn’t announced that Seki is stepping down from his post or leaving the company, a Nidec spokesperson told Reuters, adding that no decision has been made.

In its report, the Nikkei said Hiroshi Kobe, vice chairman, would take over Seki’s post.

Bloomberg first reported on Seki’s intentions. The company is planning to roll out a new leadership in October, Bloomberg reported.

Shigenobu Nagamori, who founded Nidec in 1973 and is also its chairman, recruited Seki, a former Nissan Motor executive, in 2020 to help Nidec’s drive to become a major player in components for next-generation automobiles.

Seki became chief executive officer, the position Nagamori held, in 2021. However, Nagamori took over the CEO position less than a year later, saying he wanted to improve the business performance.

Nidec’s shares were down 2.7 per cent during mid-morning trade on Thursday, while Japan’s benchmark Nikkei was up 0.5 per cent.

Source: Reuters/st