NSG President Stuart Chambers to Step Down
August 26, 2009

Stuart Chambers, who served as president, chief executive officer (CEO) and representative executive director for Nippon Sheet Glass (NSG) Group, is stepping down from his position effective September 30, 2009. He will assume the role of senior advisor to the company's board as of that date.

Katsuji Fujimoto, chairman of NSG Group, will be appointed president and CEO and representative executive director and will be responsible for managing the operations of the NSG Group, effective the following day.

At the same time, Yozo Izuhara, currently chairman of the board, will assume the role of non-executive chairman of the NSG Group. These appointments will remain in place as long as is necessary for the company to put in place a long-term succession, according to the statement from the company.

"The board of NSG recognizes the major contributions Stuart Chambers has made during his tenure in improving the operational and financial strength of the company," says Izuhara. "Despite the current global economic downturn, we have made considerable progress on our strategic objectives. The integration is complete, our initial target for net debt reduction has been met a year early and decisive action has been taken to restructure the group to address the new market conditions. I take this opportunity to thank Stuart for his commitment and enthusiasm throughout the last three years in helping to create an integrated and international NSG Group."

CLICK HERE to read the announcement from NSG.

CLICK HERE to read a related article.

Need more info and analysis about the issues?
CLICK HERE to subscribe to AGRR magazine.