Japan Tobacco has released a document outlining all of the company’s new executive appointments, including changes to the board as well as a new chief financial officer and senior vice president of people and culture, among others.
The document also details partial amendments to the articles of incorporation. It states that “the company will amend an article regarding the term of the board of directors to one year from the current stipulated two-year term in order to build a management foundation to address the changes in the business environment in a timely manner and to strengthen its corporate governance by clearly defining the responsibilities of the directors and enhance the trust with shareholders.”
In related news, JT has resolved to adopt the concept of skills necessary for the members of the board and developed a skills matrix that lists the areas in which the knowledge and experience of each director and member of the audit and supervisory board is expected to be particularly effective.
JT has also developed the skills matrix of the candidates for proposed directors and members of the audit and supervisory board who will assume new responsibilities from March 23, 2022.